Clarity Act Postponed to September; Crypto Waits

Clarity Act postponed to September: patience, prudence, and accumulation

The timeline of the United States Senate has just dictated the course for the crypto market throughout the summer. The Clarity Act will not be voted on before September: the majority leader, John Thune, confirmed the postponement after the summer break, trinc failed attempts to push for a vote before August 10.
With the stock market at highs and Bitcoin dragging its feet, the question is no longer when the law arrives, but what to do while it waits.

The Senate puts Clarity Act on hold until September

The immediate consequence is a summer without legislative catalyst. It is argued that the delay does not guarantee passage, but if negotiations advance, September could serve as a relevant catalyst for the market. Others read the postponement as another symptom: September arrives, and the calendar stretches again.

The backdrop is not helping. With US bonds yielding 5%, some find it strange that the market continues to rise, especially if money is pouring into crypto. The Ormuz conflict and regulatory slowdown are compounded by the Bitcoin-to-gold ratio, which is pointing downward.

Stablecoins, debt, and who benefits from the law

The interesting part is who stands to benefit from the regulation. Stablecoin issuers profit from it, and if those stablecoins are dollar-backed with debt, passing the law would boost demand for public debt. This is an incentive that is not always mentioned when discussing 'regulatory clarity'.

Two exits are on the horizon—those of Anthropic and OpenAI, expected before year-end. Some see them as the end of the bull cycle, although the margin until December seems slim to push Bitcoin to a new all-time high.

The strategy gaining traction among those holding positions is accumulation during the impasse. With a warning attached: if the law passes and the market signals an uptrend, it is better to take profits on time. Last summer provided the lesson.