The negative aspects of the US Clarity Act, which favors the bull market for Bitcoin and altcoins, continue.
This is because the US Senate postponed its vote on the CLARITY Act, aimed at regulating the cryptocurrency market, until September.
Following this development, a noteworthy assessment came from Michael Saylor, the founder of Strategy, who is known as a big bull in the market.
Following the delay in the Senate hearing, Saylor, in a statement made via her X account, claimed that Bitcoin does not need the CLARITY Act, but the U.S. needs clarity.
In this context, Saylor stated that the real need is for a clearer regulatory framework to be established for the US cryptocurrency market.
“Bitcoin doesn’t need clarity. America needs clarity.”
Saylor states that he doesn’t believe Bitcoin, which he sees as the market leader, needs specific regulations to succeed. However, Saylor recently expressed his support for the bill. In his statement, Saylor argues that bipartisan cooperation is necessary for both the country and the rest of the crypto market to create clear and lasting rules, protect property rights, encourage innovation, and strengthen American capital markets.
Clarity Act Voting Postponed Until September!
Michael Saylor, a prominent figure in the industry, made the statement after the US Senate postponed its vote on the CLARITY Act until September.
At this point, Senate Majority Leader John Thune confirmed that no vote had taken place yet, but said the bill would be brought up again when the Senate reconvenes in September.
The Clarity Act aims to create a clearer framework for which institutions will oversee which assets and activities in the cryptocurrency market. The law is expected to specifically clarify the boundaries of authority between the SEC and the CFTC, and to establish a comprehensive market structure for the cryptocurrency market.
*This is not investment advice.
Continue Reading: Big Bull Michael Saylor Delivers a Strong Message: “Bitcoin Doesn’t Need This!”