# market structure Related Articles

HTX News Center provides the latest articles and in-depth analysis on "market structure", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Grayscale Clarifies Whether the Cryptocurrency Market Growth-Promoting Clarity Act Will Be Passed This Year

Zach Pandl, the Research Director at Grayscale, stated that the passage of the CLARITY Act—legislation aimed at establishing a comprehensive regulatory framework for the crypto market in the U.S.—is unlikely to occur in Congress this year. According to Pandl, the Senate's tight schedule and the political climate in an election year make bipartisan agreement on the bill difficult. Pandl noted that the failure of the Clarity Act will not directly impact Bitcoin's role as a store of value, the operation of core blockchains, or the growth of stablecoin payments in the short term. The U.S. crypto sector has operated for nearly 17 years without such comprehensive market structure legislation. However, he warned that the absence of a clear regulatory framework could slow the influx of new investment and capital formation in the U.S. The proposed law aims to open new avenues for capital formation via blockchain, support the development of tokenized securities markets, and create a comprehensive oversight system for digital asset intermediaries, along with various consumer, investor, and software developer protections. Pandl believes federal regulators, particularly the SEC, will continue to fill regulatory gaps even without new legislation, issuing rules in areas like tokenized securities in the coming months. While significant progress has been made under the current administration regarding institutional custody, banking access, staking, and crypto ETPs, Pandl cautioned that without comprehensive market structure laws, much new investment and developer activity may shift outside the United States.

cryptonews.ru08/09 11:26

Grayscale Clarifies Whether the Cryptocurrency Market Growth-Promoting Clarity Act Will Be Passed This Year

cryptonews.ru08/09 11:26

Coinbase Executive 'Steadily Optimistic' About CLARITY Act's Chances of Passage

Coinbase's head of institutional strategy, D'Agostino, expresses steady optimism about the passage of the CLARITY Act, a key digital asset market structure bill. He compares the current chaotic negotiations to those preceding the successful last-minute passage of the 2025 stablecoin $GENIUS Act, suggesting the process is normal. The bill would create the first federal framework, dividing oversight between the SEC and CFTC based on token classification. Coinbase's policy director echoed this, stating substantive issues are resolved. However, market confidence is lower. JPMorgan analysts give it a 37% chance, and prediction markets assign 31%. The bill faces a tight timeline, needing 60 Senate votes before the August 8 recess, with its consideration delayed by other legislative priorities. CEO Brian Armstrong struck a more reserved tone, stating Coinbase would be fine even if the bill fails before the recess, as it already follows many of its proposed practices. He noted a regulatory backup plan exists: the SEC and CFTC could use existing authority to issue their own market structure rules. This plan changes the stakes, as agency rules are easier to revise than passed legislation. Armstrong sees the recess deadline as a useful pressure tactic but indicates the bill's passage is not existential for Coinbase.

cryptonews.ru08/01 19:22

Coinbase Executive 'Steadily Optimistic' About CLARITY Act's Chances of Passage

cryptonews.ru08/01 19:22

Trump Backs Down on Ethics Provision, as 'CLARITY Act' Enters Senate's Critical Window

On July 21st, sources report President Trump has agreed to include ethics provisions in the *CLARITY Act*, a major digital asset market structure bill, clearing a key obstacle after months of negotiation. The bill, which has already passed the House, aims to establish federal regulatory clarity for crypto by defining SEC and CFTC roles. The text is expected imminently, with a narrow window for Senate passage before the August recess. However, passage remains uncertain due to potential Democratic opposition over the ethics rules and the absence of key Republican senators. The ethics clause, a major sticking point, seeks to restrict federal officials, including the president, from profiting from digital assets while in office. This directly addresses controversies around Trump's own crypto holdings. While industry lobbyists urge Congress not to let ethics derail the broader bill, several Democratic senators have demanded stricter provisions covering family members and stronger consumer protections. Amid this legislative push, on-chain data shows significant Bitcoin accumulation by large holders ("whales") in recent weeks. After extended outflows, U.S. Bitcoin and Ethereum spot ETFs have seen two consecutive weeks of net inflows. Major corporate holders like Strategy and Metaplanet continue to accumulate or hold significant Bitcoin reserves. Notably, BitMEX co-founder Arthur Hayes recently made substantial Ethereum purchases, expressing a view that while AI is absorbing market liquidity, crypto markets have room for a rebound.

marsbit07/21 05:03

Trump Backs Down on Ethics Provision, as 'CLARITY Act' Enters Senate's Critical Window

marsbit07/21 05:03

Chainlink Labs Exec Says CLARITY Act Could Unlock Institutional Crypto

A Chainlink Labs executive highlights the CLARITY Act as a potential key to unlocking institutional crypto adoption. The core issue is that while institutional interest exists, compliance teams hesitate due to regulatory uncertainty, particularly around whether digital assets fall under SEC or CFTC authority. Clearer rules could break this deadlock, enabling real allocations and tokenization projects. This debate is highly relevant for Chainlink, which positions itself as critical infrastructure for tokenized assets and on-chain finance. For institutions to comfortably use such infrastructure, they need legal certainty on asset classification, custody, and settlement. The article argues that clearer regulation, even if strict, acts as an accelerator by removing compliance bottlenecks, though it cautions that the CLARITY Act's passage and impact are not guaranteed. Ultimately, the "unlock" is about enabling responsible institutional participation in the growing ecosystem of tokenized finance.

bitcoinist07/18 18:36

Chainlink Labs Exec Says CLARITY Act Could Unlock Institutional Crypto

bitcoinist07/18 18:36

Are the AI Giants' 'Token Subsidy Wars' Almost Over?

The article "Are AI Giants' 'Token Subsidy Wars' Nearing an End?" examines the ongoing price competition in AI token pricing, arguing that current subscription costs are heavily subsidized, with services like OpenAI and Anthropic reportedly subsidizing tokens at up to 70 times the subscription fee. Unlike past tech "subsidy wars" (e.g., ride-hailing, food delivery), AI tokens lack strong lock-in effects; users can easily switch providers if prices rise, making sustained subsidies risky. The piece highlights a structural asymmetry: giants like Google can fund subsidies with massive advertising revenue, while rivals like OpenAI and Anthropic rely on investor capital. Google Ventures founder Bill Maris suggests Google could slash token prices by 80%, putting immense pressure on competitors, especially as model capabilities converge. The article posits two potential endgames: a "winner-takes-all" monopoly scenario (like internet platforms) or a "utility" model where tokens become a low-margin, standardized commodity like electricity. Given the low switching costs, the latter seems more likely. This implies a prolonged, profitless competition where the primary goal for companies is to stay in the game, not to achieve dominance. For users, this may mean continued access to heavily subsidized AI services for the foreseeable future.

marsbit06/22 02:01

Are the AI Giants' 'Token Subsidy Wars' Almost Over?

marsbit06/22 02:01

a16z Crypto: A Guide to the CLARITY Act for Crypto Entrepreneurs

The CLARITY Act, a landmark bipartisan crypto market structure legislation, has advanced through the Senate Banking Committee, bringing unprecedented regulatory clarity for blockchain networks and digital assets closer to law. For over a decade, the lack of clear U.S. rules has stifled innovation, pushed development overseas, and exposed consumers to risk. The CLARITY Act aims to end this by establishing a tailored framework that distinguishes decentralized networks from traditional corporate structures. It provides a path for launching networks safely, clarifies jurisdictional roles between the SEC and CFTC, and enhances consumer protections. This legislative progress builds upon earlier bills like FIT21 and the House's CLARITY Act, which gained strong bipartisan support. The author argues that existing corporate law is ill-suited for decentralized networks, which operate on shared rules rather than centralized control. By aligning U.S. law with the nature of blockchain technology, CLARITY would enable builders to innovate transparently within the U.S., similar to the wave of innovation unleashed by the stablecoin-focused GENIUS Act. The next steps involve merging committee drafts for a full Senate vote, followed by House approval and a presidential signature.

marsbit05/16 04:58

a16z Crypto: A Guide to the CLARITY Act for Crypto Entrepreneurs

marsbit05/16 04:58

Crypto’s CLARITY Act Sits At 50-50 For 2026 Passage, Galaxy Says

Galaxy Digital estimates a 50-50 chance that the CLARITY Act, a key U.S. crypto market structure bill, will be passed into law in 2026. The bill, which passed the House with bipartisan support, is now in the Senate Banking Committee. A planned markup was delayed until May, and Galaxy warns that if it slips past mid-May, the odds of passage drop sharply. Key unresolved issues include stablecoin rewards language, protections for software developers, and SEC commissioner vacancies. The report emphasizes that the bill is strong on policy but faces a tight legislative calendar and significant procedural steps. Failure to pass it by May could delay crypto legislation indefinitely, especially with midterm elections potentially shifting priorities.

bitcoinist04/23 16:01

Crypto’s CLARITY Act Sits At 50-50 For 2026 Passage, Galaxy Says

bitcoinist04/23 16:01

Solana Policy Institute President’s Top Priorities For CLARITY Act And Latest Update On The Bill

Kristin Smith, President of the Solana Policy Institute, discussed the CLARITY Act, a key crypto market structure bill, emphasizing the need to protect open-source developers. Despite a recent delay in the bill’s markup, she expressed optimism due to strong bipartisan support and ongoing industry engagement. Smith highlighted the importance of creating a regulatory framework that safeguards consumers, fosters innovation, and provides legal certainty. She raised concerns about the prosecution of developers like Roman Storm of Tornado Cash, warning that criminalizing open-source code threatens innovation and free expression. Smith called for clear policies distinguishing lawful developers from bad actors. Meanwhile, Solana’s SOL traded at $130.33, down 11% over the week.

bitcoinist01/22 06:02

Solana Policy Institute President’s Top Priorities For CLARITY Act And Latest Update On The Bill