The Clarity Act (also known as Market Structure) is more important than the Genius/Stable Coin bills because it establishes rules determining which category tokens fall into (Pokemon card, stock certificate, or dollar), addressing the Biden administration's approach of classifying everything as a security.

normativepending

Speaker

Ben Horowitz

Evidence Quote

The Clarity Act... establishes rules to say well which token is this. The Biden administration's approach was everything's a security to the point where they sued artists.

Source

Ben Horowitz and David Solomon: The Sweetest Macro Spot in 40 Yearsa16z
Created: 8/12/2026, 10:05:59 PM

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