The negative aspects of the American Clarity Act, which favors the bull market for Bitcoin and altcoins, persist.
This is because the US Senate postponed the vote on the CLARITY Act bill, aimed at regulating the cryptocurrency market, until September.
Following these events, a noteworthy assessment came from Michael Saylor, the founder of Strategy, known as a staunch optimist in the market.
After the delay in the Senate hearings, Saylor, in a statement published via his X account, stated that Bitcoin does not need the CLARITY Act, but the US needs clarity.
In this context, Saylor stated that the real necessity lies in creating a clearer regulatory framework for the US cryptocurrency market.
"Bitcoin doesn't need clarity. America needs clarity."
Saylor states that he does not believe Bitcoin, which he considers the market leader, needs special regulations to succeed. However, recently, Saylor expressed support for the bill. In his statement, Saylor argues that bipartisan cooperation is necessary both for the country as a whole and for the rest of the cryptocurrency market to create clear, long-term rules, protect property rights, encourage innovation, and strengthen American capital markets.
Vote on the Clarity Act Postponed Until September!
Michael Saylor, a prominent industry figure, made this statement after the US Senate postponed the vote on the CLARITY Act bill until September.
At this point, Senate Majority Leader John Thune confirmed that the vote has not yet taken place but stated that the bill will be brought up again for consideration when the Senate resumes its work in September.
The Clarity Act aims to create a clearer framework defining which institutions will oversee which assets and activities in the cryptocurrency market. The law is expected to specifically clarify the jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as establish a comprehensive cryptocurrency market framework.
*This is not investment advice.
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