Host John Gillen speaks with GSR chief legal and strategy officer Josh Ryman about how the Clarity Act would classify digital assets and govern their sale. Ryman explains the proposed distinctions among securities, network tokens, and ancillary assets, as well as the disclosure and investor-protection rules that could accompany them.
They examine why agency guidance from the SEC and CFTC may help but cannot provide the durability or nationwide certainty of federal legislation. Ryman argues that clearer rules could unlock investment and institutional participation in the US, though passage may depend on a small group of senators.
The conversation also explores tokenization as a broader overhaul of financial infrastructure, potentially expanding access to private companies and enabling faster, more flexible transactions across borders. Ryman outlines how GSR is preparing through regulatory licenses, advisory services, and infrastructure designed to trade tokenized assets globally, whether or not the Clarity Act passes.