The United States is moving toward a comprehensive digital asset framework as the CLARITY Act advances in Congress and a companion Senate draft is refined. House passage last July signals a substantial expansion of the CFTC’s jurisdiction over digital assets, aligning with the Trump administration’s pro-crypto stance and set to accelerate traditional financial institutions’ market participation once enacted. The GENIUS Act, signed into law last July and slated to take full effect in 2026 after Treasury rulemaking, represents a pivotal regulatory milestone.
Experts say clarity will spur banks to issue regulated stablecoins and deploy on-chain payment rails, potentially widening liquidity and speeding settlement. Gracy Chen, CEO of Bitget, noted that when banks begin issuing regulated stablecoins or tokenized deposits, global liquidity will expand dramatically and settlement will accelerate.
The CFTC has undergone a large turnover, with four of its five commissioners resigning, and Trump has named Michael Selig, a former SEC official, as its new chair. This signals that regulatory directions are likely to align with the Trump administration. States are accelerating crypto adoption as well, with Texas, Arizona, and New Hampshire passing measures allowing state funds to hold digital assets. Texas has already invested $5 million in BlackRock’s spot Bitcoin ETF IBIT and plans future Bitcoin purchases.
Leave a Reply