PiCK

Summary

  • Kevin O’Leary said the CLARITY Act will pass in 2027 because of economic necessity.
  • O’Leary emphasized that the expansion of real-world asset tokenization (RWA) and a shift to blockchain would make the financial services system more efficient.
  • He added that the CLARITY Act still faces an uncertain legislative path after its Senate defeat and with Democrats holding majorities in both chambers.

Forecast Trend Report by Period

Kevin O’Leary, a prominent US investor, said the CLARITY Act will pass in 2027.

Stocktwits reported on November 7 that O’Leary wrote on X, formerly Twitter, that “the CLARITY Act will pass next year because of economic necessity.”

O’Leary cited the expansion of real-world asset tokenization, or RWA, as a key reason the bill will ultimately advance. He said tokenization is a good way to make the financial services system more efficient and is far better than the current system.

He also said some money-transfer methods still in use today were created in the 1960s and have not been properly improved since then. A shift to blockchain, he added, could solve many of those problems.

Despite the upbeat outlook, the bill’s legislative path remains uncertain. Discussion of the measure halted after it failed a procedural vote in the US Senate in September by a 49-50 margin.

The November 3 US midterm elections could also affect the bill’s prospects after Democrats won majorities in both the Senate and the House. If the CLARITY Act is not passed during the current session, the legislative process will have to begin again in the new Congress next year.

Uk Jin