Odaily Planet Daily report: Before the U.S. Senate's summer recess, the Digital Asset Market Clarity Act (CLARITY Act) failed to seize a critical opportunity for advancement; the market is now focusing on whether the U.S. crypto industry can still grow even if the bill ultimately fails.
Analysts believe that if the CLARITY Act fails to pass, it would be a significant setback for the crypto industry—but not a fatal one. The bill was originally intended to clarify the boundaries between securities, commodities, and other categories of digital assets, identify the regulatory agencies responsible for overseeing related entities, and grant the U.S. Commodity Futures Trading Commission (CFTC) clearer authority to regulate crypto commodities.
Currently, progress on the bill has stalled, and the likelihood of comprehensive cryptocurrency market structure legislation being enacted by year-end is decreasing. This means the U.S. may still lack a clear regulatory framework for digital assets, particularly regarding the oversight of trading in major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), where jurisdictional gaps remain between the CFTC and the Securities and Exchange Commission (SEC).
However, industry insiders note that even if the CLARITY Act fails, the SEC and CFTC may still continue to advance the industry through policy statements, regulatory guidance, and existing enforcement authority.
In recent years, two institutions have successively issued multiple guidelines clarifying the regulatory boundaries for business models such as cryptocurrency mining, meme coins, and staking rewards. One of the most significant measures is the digital asset taxonomy, which aims to establish regulatory classification standards for different types of digital assets. (CoinDesk)