The “savior” that the crypto industry had been waiting for over a year — the CLARITY Act (Digital Asset Market Clarity Act) — passed the House and cleared the committee stage. But when it reached the full Senate vote… it got delayed.
(The postponement was confirmed on August 6, with a new vote expected on September 15.)
On Polymarket, the probability of the bill passing this year plunged from 82% to 21%. A brutal reversal, to say the least.
With Congress stuck, SEC Chairman Paul Atkins decided to take a different route.
On August 14, the SEC will push forward the Regulation Crypto proposal, whose core idea is that the SEC is shifting from its previous approach of “enforcement after the fact” to “leading with clear rules.”
Instead of forcing companies to rely on lawyers interpretations, the SEC aims to tell the industry what the rules are and how exemptions can be obtained.
But dont celebrate too early:
The August 14 vote only decides whether the proposal will be released for public comment.
The rules would not take effect until at least 2027.
So for now, it is more of a signal:
Regulatory certainty is emerging through the executive branch.
In the short term, the market impact may be limited.
But in the long term:
Bullish for Bitcoin, bearish for altcoins.
Bitcoins regulatory identity is becoming clearer, and the framework is taking shape.
Meanwhile, many altcoins still have to keep asking:
“Am I considered a security？”
“Will regulators come after me？”