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The Brightness Act is heading for the Senate to assess before it leads it to Trump’s table. The aim of the bill is to offer a comprehensive framework for the crypto sector.
The crypto week was a successful and historical victory for this industry.
17th July cleaned Bill Stablecoin, a brilliant law on Trump’s approval, while the wider law on the market structure, the Clarity Act, advanced to the Senate.
Both accounts enjoyed massive bipartisan support, and the Clear Act gained 294 “yes” votes against 134 ‘no.’
Compared to its predecessor Fit21 Last year, 78 Democrats were favorable to the clarity, which is more than half of the expected number.
But what rules do the bill contain and how does it affect markets?
Unpacking the Law on Clarity
The chargeFor the first time in May 2025, it aims to clearly define digital assets whether they are securities (investment contracts) or commodities.
Plus suggested The fact that SEC (Securities and Stock Exchange Commission) will deal with crypto assets considered “securities”.
On the other hand, CFTC (Commodity Futures Trading Commission) will deal with decentralized crypto assets and trading.
Other provisions include an exception to the Refi and crypto projects at the early stage of sight of the condition that they submit proper publication if necessary.
Fans of the bill described this as a great shift from enforcement measures from the time when crypto companies were sue, because there was no clarity to classify the tokens.
In addition, retail users will benefit from greater protection due to increased requirements for publishing brokers and projects.
In addition, the bill will stimulate innovations and build the US at the same level with other regions with clear rules such as the EU, Singapore and Sae. House Speaker Mike Johnson summarized that like, ‘
“Make a Crypto’s main pillar of the US economy and ensure that America remains a global leader in this dynamic industry.”
For the observer of the policy at MacmillanThe bill “forms the future role of the US in the global landscape of digital asset”.
Criticism
However, critics also pointed to several problems with the bill.
Last month, former chairman of CTFC Timothy Massad said A house that could lead a dual supervision model to greater confusion than clarity in a rapidly developing sector.
A similar reservation was shared by the Agency for Consumer Protection Americans for Financial Reform (AFR).
Compared to Fit21, killed an account as a transition from “bad to worse” quote Ambiguity in sight.
“The Clarity Act took the deregulatory agenda of the crypto industry from the wrong to worse.”
AFR added,
“Crypt investors on Defi platforms will be largely left to take care of themselves. It also means that a defined space full of theft, hacks and fraud – will be an incubator for an even more ferocious and Scammy activity that can bleed into multiple centralized exchanges.”
The bill will be considered in the Senate before the submission of Trump for final approval. It remains to be found whether it will be removed to the September term Trump.
