Saylor Sees Bitcoin Advancing Despite CLARITY Act Setback
Michael Saylor has responded to the setback of the CLARITY Act in the Senate by stating that Bitcoin's development does not depend on new legislation. The bill, which aimed to establish a broader federal framework for digital assets and clarify the roles of regulatory bodies, failed to advance with 50 votes in favor and 49 against.
Saylor expects existing regulatory authorities, including the SEC, CFTC, and U.S. Treasury, to continue working on rules under current laws. He also believes that banks will expand Bitcoin custody and lending, creating more connections between traditional finance and digital assets.
The GENIUS Act, a separate piece of legislation already enacted, provides a federal framework for payment stablecoins and represents another source of momentum for the sector.