Countdown in Washington: The Senate now has the final draft of the CLARITY Act for cryptocurrencies

The US Senate is debating a crucial bill for the structure of the crypto market, while Donald Trump promotes his vision in Davos.

The international financial scene has turned its attention to the United States at a time when the convergence between high-level politics and digital regulation appears to be reaching a boiling point. While President Donald Trump reaffirmed his commitment to transforming the country into the world's cryptocurrency capital during his address at the World Economic Forum in Davos, the legislative machinery in Washington showed mixed signs of progress and caution. 

The Senate Agriculture Committee recently released an updated draft of the bill law on the structure of the digital asset market, known as the CLARITY Act, a document that seeks to establish the definitive rules of the game for an industry that has so far navigated in gray waters.

This legislative proposal represents a coordinated effort to provide clarity to a sector that demands precise definitions. According to the details of the draft, the main objective is to define the powers of regulatory bodies, granting the Commodity Futures Trading Commission oversight of assets considered digital products, such as Bitcoin and Ethereum, while the Securities and Exchange Commission would retain its authority over those assets that qualify as financial securities. 

The current draft bill, which was praised by Michael Selig, chairman of the CFTC, and Paul Atkins, chairman of the SEC, is headed to the Senate for review and a vote. It could be approved on January 27th..

The law that could change the relationship between the state and cryptocurrencies

The so-called CLARITY Act has positioned itself as the cornerstone of the current legislative debate due to its ambitious goal of reorganizing the financial dashboard in the United States. 

As mentioned, this legislative project seeks to establish a clear dividing line between the powers of the country's main regulatory agencies, eliminating the gray areas that have led to conflicts of authority for years. A key aspect of this legislation is the explicit prohibition of the creation of a central bank digital currency or CBDCThis measure seeks to preserve citizens' privacy against state control. However, it's not all deregulation, as several analysts they warn The text imposes much stricter supervision on transactions involving digital assets, forcing market participants to comply with unprecedented transparency standards.

Within the private sector, opinions are divergent and reflect the complexity of the document. Brian Armstrong, CEO of Coinbase, had publicly stated his opposition to the draft law, deeming it counterproductive to technological growth, although he recently softened his stance, confirming that he is actively negotiating with legislators to reach a system where all parties benefit. 

According to reports, despite the publication of this text without the usual brackets indicating disputed sections, the committee chairman, Senator John Boozman, has been emphatic in stating that there are still significant differences that must be resolved before the project can move forward with solid support.

On the other hand, influential figures like Selig, Atkins, and Mark Uyeda are expressing renewed optimism, asserting that the draft is practically ready for enactment and that financial markets will thrive under a framework specifically designed for innovation. Many experts agree that this legal advancement could be the necessary fuel for a historic surge in the price of Bitcoin and other major cryptocurrencies.

This intense regulatory debate also coincides with news that has shaken global markets, as the White House has confirmed that the president Donald Trump plans to eliminate taxes on all Bitcoin transactions.This policy of tax incentives, combined with the structure of the CLARITY Act, aims to consolidate the country's digital sovereignty while facilitating the use of crypto assets as legitimate assets.

Banks, politics and the new framework of digital finance with the CLARITY Act.

The debate over the regulation of digital finance in the United States is not only taking place in the halls of the Capitol, but has extended into a narrative of confrontation between the established financial system and the emerging ecosystem of digital finance. 

Eric Trump, President Trump's son, has garnered media attention by directly accusing traditional banking institutions of obstructing the progress of this legislation. According to his statements, the banks are using their influence to delay regulations that could facilitate more direct competition from financial technology companies. His stance reinforces the idea of ​​institutional resistance to a paradigm shift aimed at providing greater financial freedom to American citizens.

In contrast to this conflict-ridden view, David Sacks, who holds a strategic position as the White House's artificial intelligence and cryptocurrency czar, maintains a more integrative perspective on the immediate future. According to reports from his office, banks are expected not only to cease their opposition but to actively enter the crypto sector once the regulatory framework is transparent and secure. 

For Sacks, the regulatory clarity that would result from the potential passage of the CLARITY Act will be the catalyst enabling large financial institutions to adopt these technologies without the operational or legal risks that currently keep them on the sidelines. Sacks presents this integration as a necessary step to counter the growing influence of other powers, especially China, in the dominance of the global digital financial infrastructure.