The market-structure bill that would define US crypto — and everything moving around it.
The CLARITY Act is the market-structure legislation that would finally settle the question US crypto markets have argued over for a decade: which digital assets are securities regulated by the SEC, and which are commodities regulated by the CFTC. Without that line drawn in statute, every US exchange, token issuer, and DeFi protocol operates on interpretation and enforcement precedent.
That uncertainty has a measurable price. Through 2026, Bitcoin rallies have consistently tracked CLARITY optimism and stalled when negotiations froze — one of the clearest examples anywhere of legislation moving an asset class in real time.
This hub follows the bill's progress, the market's reaction to each stage, and the parallel regulatory story: tokenization rules, ETF flows, and the international frameworks now catching up.
The CLARITY Act is proposed US legislation that would establish a market structure for digital assets, primarily by dividing regulatory jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It aims to replace case-by-case enforcement with a statutory framework.
Regulatory uncertainty suppresses institutional participation in US crypto markets. Through 2026, Bitcoin rallies have repeatedly coincided with progress on the bill and stalled when negotiations halted, because a clear statutory framework would lower compliance risk for large allocators.
Real-world asset (RWA) tokenization is the practice of representing ownership of off-chain assets — treasuries, private credit, real estate, commodities — as blockchain tokens. It is one of the few crypto use cases with clear institutional demand, and its legal treatment depends heavily on the securities questions CLARITY would settle.
No. As of late July 2026 the bill has not been enacted. Senate Republicans unveiled a new draft after earlier negotiations stalled, restarting the legislative process. Watch committee scheduling and whether bipartisan co-sponsors emerge — that distinction separates a bill from a law.