A U.S. digital asset regulation bill known as the CLARITY Act is likely to pass Congress despite opposition from some Democratic lawmakers, a forecast said.

On July 31 local time, Coinbase Chief Policy Officer Faryar Shirzad (파리아르 시르자드) said Congress is adjusting detailed language in the bill, but understanding of its intent is growing, particularly among younger Democrats, according to blockchain outlet Bitcoin Magazine.

Shirzad appeared on The Hill’s morning program and said, "Crypto is probably the most bipartisan issue in Washington." He argued that a consensus is forming not only among Republicans but also within the Democratic Party that the regulatory framework for digital assets needs to be clarified.

The key issue is the gap within the Democratic Party. Shirzad said much of the opposing current is a generational issue. He said younger lawmakers understand technological change and a shift in the way finance works, and believe that as the form of money changes, the way people participate in finance must also adapt. He called it a "generational shift" and said supporters would ultimately be in a favorable position.

He also cited the number of cryptocurrency holders in the United States as a driver of political momentum. Shirzad said about 67 million Americans currently hold cryptocurrency, adding that ethics issues and nomination issues have been settled and that the process should now move smoothly because a bipartisan bill has been prepared on the substance.

Congress is reviewing the latest draft of the CLARITY Act. The bill aims to codify a regulatory framework for digital assets. A recently circulated revision includes a provision banning public officials and their families from issuing or promoting cryptocurrencies. It reflects issues previously raised by lawmakers on the opposing side.

Opposition within the Democratic Party has not been resolved. Some Democratic lawmakers said in a statement last week that the current bill is still inadequate. The bill has remained deadlocked this year, and concerns raised by banking leaders over stablecoin revenue structures and ethics issues also had an impact.

Banking lobby groups have argued that banks’ deposit base could be weakened if cryptocurrency exchanges offer customers attractive returns. As a result, debate over the CLARITY Act has gone beyond a simple overhaul of industry regulation and has become intertwined with how stablecoins and exchange services will relate to the traditional financial sector.

In this situation, Coinbase has repeatedly stressed the bill’s bipartisan nature. Shirzad has also described the bill in a previous interview as a "very bipartisan" product. Attention in the review process is expected to focus on how much the ethics provisions can reduce defections among Democrats and to what extent concerns about stablecoin revenue will be addressed in the legislative language.

If the CLARITY Act passes, the regulatory framework for digital assets will be закрепed in law in the United States, the world’s largest economy. That could lead to more specific business standards in the U.S. crypto market and more concrete regulatory debate in politics.

JUST IN: Coinbase Chief Policy Officer talks CLARITY ACT progress on The Hill: ""We've got ethics nailed down, we've got nominations nailed down, we've got a bipartisan bill on the substance, we should be good to go" pic.twitter.com/gMKuM7ujYs