BTC price is over 94 thousand dollars and we have entered the midterm election year. The rise in cryptocurrencies was good and expected after a long period of excessive sales. Especially after a 2-week holiday, which is what should happen. But volumes should increase and we should see more “exciting” moves in altcoins. But January 6 is the big day.
Important Development in Cryptocurrencies
PunchBowl reporters say in the leak, based on three sources familiar with the matter, that Senators from both parties will meet to discuss crypto market structure legislation on Tuesday, January 6. This legislation is known as the CLARITY Act and aims to bring clarity to cryptocurrency markets.
GENIUS After the law was approved last year, how large financial institutions and banks stablecoin We saw that they were encouraged to take bigger steps in their field. This legislation, which will bring clarity to the cryptocurrency market, will pave the way for the same institutions to start offering cryptocurrency services.
The main motivation of giant financial institutions is to make money by providing legal financial services to their customers. There are already companies providing crypto services, but CLARITY should be enacted as soon as possible so that large banks can dive into this business mainly with money motivation. While they’re making money cryptocurrency markets It should attract more liquidity and rise.
CLARITY 2026
After the approval of this law by the Senate and the House of Representatives, the two chambers must turn it into a single bill and approve it. That’s why the process for the CLARITY Act, which has different versions, is long. If senators decide to start negotiations tomorrow and create a timetable, Senate approval of the law may come in the first quarter.
After Senate approval, the House of Representatives process begins, where corrections are made for several months between the different version of the bill and the approved version. Then it goes to final votes and Trump. All these processes must be completed before August. Democrats’ cryptocurrency-phobic image is hurting them if they want to do better in the midterm elections. Millions of Americans crypto investor This is their last chance to win your heart.
If the law is not dragged out by the Democrats and the Republicans act quickly, the market clarity law will be signed by Trump in 2026. There is a risk that Trump will lose the majority in the Senate and House of Representatives in this year’s midterm elections. While Trump focuses on policies that will reduce inflation and interest rates and garner votes until the elections, he should put enough pressure on his party members to complete the crypto laws. Our biggest luck is the fact that his family is now very close to the crypto business. A significant portion of Democrats are uncomfortable with this, and their Trump discomfort extends to crypto as well.
