Everyone is waiting on Congress to pass the Clarity Act. Meanwhile the CFTC chief already told his own staff to start drafting crypto rules in case that bill never shows up, that is the actual story.

This is the part most people miss. Regulators are not waiting around for politicians to agree on anything anymore, they are building the backup plan already. That is not bearish, that is a sign this market is too big to leave in limbo.

I am not changing anything on my side. Levels stay the same, plan stays the same. Regulation coming slow and steady beats regulation not coming at all.

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