The United States may be approaching the biggest "turning point" in cryptocurrency history: Countdown to the "CLARITY Act"! Will DeFi be the biggest winner?
Coinbase CEO: Expects the House to pass the "CLARITY Act" next week, the U.S. is ready to embrace cryptocurrency!
This move is largely beneficial for the later development of the crypto market, especially for the development of the DeFi sector and short-term price benefits:
From July 14 to 18, three pieces of legislation will be advanced during "Crypto Week":
GENIUS Act - Establish a regulatory framework for USD stablecoins.
Anti-CBDC Surveillance Act.
CLARITY Act - Define whether digital assets are commodities or securities, clarifying the responsibilities of the CFTC and SEC.
What @brian_armstrong mentioned is the third item, the CLARITY Act;
1️⃣ What is the "CLARITY Act" —
CLARITY stands for "Digital Asset Market Clear Act."
It is a legislative proposal aimed at clarifying the regulatory framework for crypto assets, providing a temporary registration system for exchanges, brokers, etc., to enter the market and transition to compliant operations.
Its core functions are the following three:
1) Regulate the digital asset market,
2) Clarify the classification of digital assets, regulatory agencies, and related legal frameworks,
3) Provide certain exemptions for DeFi protocols to protect developers and validators from excessive regulation;
2️⃣ Why it is important —
The main reason is to eliminate regulatory uncertainty: Currently, the main issue in the U.S. crypto industry is the "regulatory fog": The SEC frequently sues crypto projects but there are no clear rules for companies to follow.
The CLARITY Act will provide clear rules and compliance pathways for industry development.
Once the bill is passed, it means:
Mainstream acceptance of crypto assets in the U.S.;
Lower barriers for large financial institutions to enter;
Potential to trigger a new wave of capital inflow.
3️⃣ Impact on the market —
Coinbase, MicroStrategy, mining companies, and RWA-related projects will benefit; the market may preemptively hype this positive news, with BTC, ETH, and U.S. stock-related crypto concept stocks likely to strengthen;
In the short term, this is also the main reason why $BTC has been pushing towards the 110,000 mark recently; the 110,000 pressure level for Bitcoin is crucial, and I believe the DeFi sector may see significant benefits, with the possibility of a sharp increase dramatically rising!
In the medium to long term, the U.S. may become a legitimate stronghold for crypto finance; DeFi, NFTs, and tokenized assets will gain greater legitimacy and capital attention; the global regulatory trend may be led by the U.S.
In summary:
This is a "milestone" event for the U.S. crypto industry. Once the legislation is passed and signed, it means the U.S. is finally ready to "release" cryptocurrency — not just compliance, but from a national level, preparing to "embrace crypto";
The regulatory boundaries of the SEC and CFTC will be clarified, and the industry will welcome a "compliance bull market."
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