On July 13, US President Donald Trump once again outlined his position on cryptocurrency regulation, urging the Senate to quickly pass the CLARITY Act. With only four weeks left before the August recess for lawmakers, this issue has taken on particular urgency.
The essence of the bill is a fundamental redistribution of powers in the oversight of digital assets. Under the CLARITY Act, a significant portion of cryptocurrency regulatory functions would shift from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). This effectively recognizes many digital assets not as securities but as commodities, fundamentally changing the rules for issuers and investors.
However, the path to passing the bill is far from straightforward. Its approval requires 60 votes in the Senate, meaning it needs support from Democrats. The latter, in turn, insist on including additional provisions concerning conflicts of interest. Without their consent, Republicans cannot secure the necessary number of votes.
My expert analysis: The CLARITY Act is not merely a technical adjustment but an attempt to create a clear jurisdictional boundary between the SEC and the CFTC. If the law is passed, we will see a sharp increase in applications for futures and options products, as well as a reduction in regulatory uncertainty for many altcoins. However, the battle for Democratic votes could drag out the process, and the August deadline looks increasingly ambitious.