Trump's concession on the Clarity Act is the key to an institutional bull run: what it means for the market
US President Donald Trump made a principled compromise by agreeing to an ethical norm that had been blocking the advancement of the Clarity Act bill. This document, known as H.R. 3633, could become the first comprehensive federal act for the crypto industry in the US. Without this step, the bill could not be brought to a vote in the Senate. Now, after negotiations with Republican senators, the main obstacle has been removed. However, Democrats have not yet been briefed on the final text of the amendment, which adds intrigue.
What is the essence of the problem and why is it important?
The Clarity Act addresses a fundamental task — it delineates the powers of the SEC and the CFTC, transferring primary control over the crypto market to the latter. This means that each token will receive a clear legal status: whether it will be recognized as a commodity or a security. For institutional investors, such as pension and sovereign funds, this removes the main risk of legal uncertainty. As Simon Dedic from Moonrock Capital noted, this is likely the largest positive catalyst for the crypto market in history. JPMorgan analysts also call this step the main trigger for an influx of institutional capital.
Why did Trump make concessions?
The controversial ethical amendment prohibits officials from earning income from digital assets. For Trump, who according to the OGE earned about $1.4 billion from crypto assets in 2025, this was a sensitive issue. Democrats demanded strict restrictions, while the president feared personal financial losses. A compromise was found, and now the White House's key crypto advisor, Patrick Witt, has confirmed readiness to see the matter through, even postponing his military training. David Sacks, chairman of the President's Council of Advisors on Science and Technology, also openly welcomed this decision.
Timeline and political arithmetic
For the bill to pass in the Senate, 60 votes are needed. Republicans currently hold only 53 seats, so support from at least seven Democrats is required. So far, only two of them have declared their support. Majority Leader John Thune plans to hold the vote before August 7. If delayed, the issue will be postponed until autumn. After the Senate, the document will return to the House of Representatives, and the final step will be the president's signature.
What does this mean for investors?
The US law has no direct legal effect on Russian citizens, but the indirect impact will be enormous. The influx of institutional capital into the US will boost the liquidity of all assets, including cryptocurrencies owned by Russians. Global exchanges will begin operating under new standards, directly affecting listings and token classifications on platforms popular in Russia.
Cryptalist expert opinion: Trump's concession is not just a political gesture. It is a signal that even at the highest level, there is recognition that without clear rules of the game, the crypto market cannot attract "smart money." If the Clarity Act is passed, we will see not just a bull run, but a structural transformation of the market, where legal clarity becomes as much an asset as Bitcoin itself. A repeat of a collapse on the scale of FTX will become impossible. This is the end of the era of lawsuits and pressure — the beginning of the era of rules.