Bitcoin price $BTC exceeds the shock of the “CLARITY” law stall: what does the market expect now? Bitcoin’s price managed to overcome the aftermath of a difficult week in the digital assets market, after it fell to around $75,000 following the failure of the U.S. Senate to pass the procedural vote on the “CLARITY” law on September 15, before it recovered its losses and surpassed $81,000 yesterday, Friday.
Experts believe the outcome of the vote does not indicate a U.S. shift toward tightening restrictions on the digital assets sector, but rather keeps the regulatory uncertainty in place.
The CLARITY stall does not mean the end of the legislation: “Aivon Kan,” COO of “Bitget Wallet,” said that the bill’s failure to move forward kept the U.S. crypto market within the current, fragmented regulatory framework, instead of creating clearer federal rules that would define the powers of the SEC and CFTC.
He added that the vote did not impose new restrictions on self-custody wallets, but the legal protection the law could have provided to users of these wallets and to developers of non-custodial software did not materialize on a stronger legislative basis.
At the same time, the “CLARITY” law may still be revisited procedurally, but the legislative calendar makes passing it during the current year more difficult.
A stall in the “CLARITY” law does not mean a halt to regulatory developments, as U.S. authorities continue to use their existing powers.#BinanceSquareBTC #Binancesquare
Experts believe the outcome of the vote does not indicate a U.S. shift toward tightening restrictions on the digital assets sector, but rather keeps the regulatory uncertainty in place.
The CLARITY stall does not mean the end of the legislation: “Aivon Kan,” COO of “Bitget Wallet,” said that the bill’s failure to move forward kept the U.S. crypto market within the current, fragmented regulatory framework, instead of creating clearer federal rules that would define the powers of the SEC and CFTC.
He added that the vote did not impose new restrictions on self-custody wallets, but the legal protection the law could have provided to users of these wallets and to developers of non-custodial software did not materialize on a stronger legislative basis.
At the same time, the “CLARITY” law may still be revisited procedurally, but the legislative calendar makes passing it during the current year more difficult.
A stall in the “CLARITY” law does not mean a halt to regulatory developments, as U.S. authorities continue to use their existing powers.#BinanceSquareBTC #Binancesquare
