The Milk Road Show Crypto’s Next Bull Run Will Be Built on THIS (Clarity Act Explained) w/ Jake Chervinsky
Mar 31, 2026
Jake Chervinsky, a crypto legal expert and CEO focused on DeFi policy and developer protections. He breaks down how U.S. regulation, especially the Clarity Act, could make or break institutional onchain adoption. Short takes on tokenization, timing for institutions, privacy versus compliance, and why developer shields matter for DeFi's future.
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Institutions Are Real And Planning Onchain Moves
- Institutions are actively preparing to move onchain because they see durable DeFi product-market fit.
- Jake Chervinsky observed TradFi at DAS shifting from skepticism to planning product integration and investments like BlackRock and ICE moves.
Clarity Helps But Education Comes First
- Policy clarity matters but institutions also need education on DeFi's commercial opportunity.
- Jake says many at institutions still equate crypto with Bitcoin and need help understanding smart‑contract platforms and onchain use cases.
DOJ Actions Undermine Pro Crypto Signals
- DOJ prosecutions (e.g., Tornado Cash) create regulatory conflict that scares builders and institutions despite pro-crypto signals elsewhere.
- Jake highlights Roman Storm's retrial as evidence DOJ's approach undermines US on‑shoring of privacy tech.