Tech • IA • Crypto
The text shaking the market
7/10TL;DR
The U.S. Clarity Act, currently under review in Congress, could durably reshape the cryptocurrency market and directly influence the price of Bitcoin, which is hovering around critical levels.
KEY POINTS
A market hanging on U.S. decisions
Bitcoin is moving in a decisive range, fluctuating between $75,000 and $85,000 after a rebound of more than $20,000. Investors are closely watching U.S. policy, which has become central since the massive entry of financial institutions. Price movements now reflect both macroeconomic dynamics and regulatory developments.
A strategic law for the entire ecosystem
The Clarity Act, a 257-page document, aims to establish a stable legal framework for cryptocurrencies in the United States. Approved in committee on May 14, it still needs more than 60 votes in the Senate, likely by June or July 2026. In case of failure, a delay until 2030 is being considered, raising strong concerns across the market.
Ending the ambiguity between SEC and CFTC
For years, the SEC and the CFTC have disputed crypto oversight. This uncertainty led to major cases such as Ripple (XRP), sued in 2020 with an initial fine exceeding $125 million. The Clarity Act resolves this by clearly categorizing assets, reducing the risk of unexpected litigation.
Three categories to structure the market
The bill distinguishes digital commodities (such as Bitcoin, Ethereum, Solana), investment contracts tied to tokenized assets, and stablecoins. This classification determines the applicable level of regulation, offering a clearer framework for companies and investors.
A lever for institutional investment
According to a Goldman Sachs study, 61% of institutions want to increase their crypto exposure, but 35% say they are held back by the lack of clear rules. Bitcoin ETFs have already attracted more than $115 billion, while nearly 90 products await approval. A stable law could trigger massive capital inflows.
The key compromise on stablecoins
A major sticking point, yields on stablecoins, has pitted the crypto industry against banks. The compromise bans passive interest, but allows gains through activities like lending or cashback payments. This solution preserves the banking model while leaving opportunities for the crypto sector.
Persistent political tensions
An ethics clause, supported by 73% of Americans, aims to prevent public officials from profiting from crypto. It could become the final obstacle, notably due to disagreements with the White House. The vote will require bipartisan support, making the outcome uncertain.
A matter of economic sovereignty
The United States aims not to fall behind frameworks already in place such as MiCA in Europe or regulations in Singapore and Dubai. The goal is to maintain financial attractiveness and capture blockchain-driven innovation.
CONCLUSION
The Clarity Act represents a potential turning point for cryptocurrencies, and its adoption or failure could shape Bitcoin’s direction in the short term and the United States’ role in the global digital economy in the long term.