For about 10 years now the CFTC and SEC have held that bitcoin is not offered and sold as a security, meaning it’s largely unregulated under federal law. The CLARITY Act doesn’t much change that and if anything could be argued to increase regulations around bitcoin trading.

One might argue that potential mass adoption hypothetically driven by the CLARITY Act’s passage would boost bitcoin values. However bitcoin isn’t much used in the provision of services in crypto markets – it’s largely a buy and hold asset. And there’s not much if any layer two that relies on its chain. In many ways it’s its own market segregated from the rest of crypto.

Curious if others have different thoughts.

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