CLARITY Act breakdown — the bill that could flip US crypto regs overnight.

Here's what shifts:

• Who regulates: CFTC takes lead on digital commodities, SEC backs off most tokens
• Token launches: Clear safe harbor for early-stage projects — no instant securities label
• DeFi: Protocols get breathing room, less enforcement risk if truly decentralized
• Fundraising: Legal pathways for token sales without drowning in securities law
• Exchanges: Lighter touch for platforms listing non-security tokens
• Custody: Clearer rules for who can hold your coins and how

If this passes, US finally gets a playbook instead of regulation by enforcement. Bullish for builders, less exit to offshore.

Still early — but this could be the unlock US crypto has been waiting for since 2017.