Clarity Act Delay Sparks Market Volatility
The US Senate's 'Clarity Act (Digital Asset Market Structure Act)' has been pushed to September, disappointing crypto industry expectations. The bill was initially expected to pass before the August recess, but its passage was ultimately delayed. Bitcoin, however, continued to rise, breaking above $65,300 and setting a new August high.
Altcoins such as XRP, Shiba Inu, and Cardano posted mixed moves amid regulatory uncertainty. Robinhood and Dinari expanded support for tokenisation and trading, speeding up their push into the regulated mainstream. Security risks linked to quantum computing and conflict over an Ethereum upgrade also emerged as new variables.
A White House crypto adviser attributed the delay to Democrats, while 'regulatory polarisation' caused by the delay was cited as a side effect. Large players such as Coinbase and Circle are pulling further ahead, while latecomers are stuck in uncertainty. The market reacted immediately, with XRP being forced to test the $1 level.
President Trump reaffirmed his intent to foster the industry, saying he would not hand crypto leadership to China. By contrast, Cardano founder Charles Hoskinson took aim at Senator Elizabeth Warren, saying she effectively wants a total ban on crypto.