The expectation that the Clarity Act will pass within the year is clearly cooling off.
Citing a CoinDesk report, PANews says that at a CoinDesk policy and regulatory event, White House crypto adviser Patrick Witt and Treasury Department official Luke Pettit stated that the hope of getting this bill passed through Congress this year is “slim to none,” and that the atmosphere inside Congress is already quite frosty. The focus will shift next to regulatory agencies such as the SEC and the CFTC, while the Treasury Department is also drafting stablecoin implementation details for the GENIUS Act.
The direct impact of this news on the market is not just a matter of one token going up or down; rather, policy expectations continue to be weighed down. Scenario 1 to watch: in terms of the compliance boundaries for exchanges, token issuers, and DeFi, the picture will still rely more heavily on enforcement actions and agency rules to piece things together. Scenario 2 to watch: only if the SEC and CFTC can provide more actionable rules may the market’s risk appetite for BTC, ETH, and U.S.-compliant platforms begin to recover.
What matters more to you: regulatory agencies issuing detailed rules first, or Congress advancing further legislation afterward?
Figure 1: Hopes for the Clarity Act to pass within the year weaken · Source page partial screenshot
Image source: https://www.panewslab.com/zh/articles/01a0cbd7-8abf-72aa-9f7a-db853ff99ae6
Citing a CoinDesk report, PANews says that at a CoinDesk policy and regulatory event, White House crypto adviser Patrick Witt and Treasury Department official Luke Pettit stated that the hope of getting this bill passed through Congress this year is “slim to none,” and that the atmosphere inside Congress is already quite frosty. The focus will shift next to regulatory agencies such as the SEC and the CFTC, while the Treasury Department is also drafting stablecoin implementation details for the GENIUS Act.
The direct impact of this news on the market is not just a matter of one token going up or down; rather, policy expectations continue to be weighed down. Scenario 1 to watch: in terms of the compliance boundaries for exchanges, token issuers, and DeFi, the picture will still rely more heavily on enforcement actions and agency rules to piece things together. Scenario 2 to watch: only if the SEC and CFTC can provide more actionable rules may the market’s risk appetite for BTC, ETH, and U.S.-compliant platforms begin to recover.
What matters more to you: regulatory agencies issuing detailed rules first, or Congress advancing further legislation afterward?
Figure 1: Hopes for the Clarity Act to pass within the year weaken · Source page partial screenshot
Image source: https://www.panewslab.com/zh/articles/01a0cbd7-8abf-72aa-9f7a-db853ff99ae6
