🇺🇸
The failure of the CLARITY Act in the Senate is indeed a blow to the U.S. crypto regulatory agenda.
However, market attention has now shifted to two other important proposals related to crypto:
1️⃣ Crypto Tax Bill
One of its main focuses is making crypto transactions of smaller value more practical through a de minimis mechanism, so that small transactions do not always give rise to capital gains calculation obligations.
The proposal currently under discussion also includes tax treatment for network fees; for example, the House version introduced this week proposes an exemption for network fees below $10.
If rules like this are applied, using crypto for everyday transactions could become simpler because users wouldn’t need to calculate capital gains for every small transaction.
2️⃣ Strategic Bitcoin Reserve
The other proposal relates to a strategic U.S. Bitcoin reserve.
The main idea is to provide a more permanent legal framework for Bitcoin that the U.S. government already owns, rather than relying only on executive policy.
This is important because the U.S. government already has Bitcoin obtained, among other things, through asset seizures. The concept of a Strategic Bitcoin Reserve itself was formed through an executive order in 2025.
🔥 So, CLARITY’s failure doesn’t mean the crypto agenda in Washington has stopped.
Instead, the market now has several different fronts:
CLARITY → crypto market regulation
Tax Bill → use & taxation of crypto
Bitcoin Reserve → BTC’s position as a government reserve asset
All three have different implications for the industry.
📌 What to watch: whether the other two proposals can garner enough political support after CLARITY’s failure.
CLARITY failed to move forward.
But the U.S. crypto regulatory battle is still ongoing.
