Saylor says stalled CLARITY Act could boost Bitcoin activity

Strategy Executive Chairman Michael Saylor has predicted that the CLARITY Act’s 49-50 Senate defeat could send more capital toward Bitcoin as U.S. regulators continue writing crypto rules under their existing powers. Summary The CLARITY Act fell 11 votes short of the 60 needed to advance. Saylor expects regulators to proceed without waiting for another congressional vote. Banks could expand Bitcoin custody and Bitcoin-backed lending, according to Saylor. Coinbase and Bernstein also expect the SEC and CFTC to keep developing crypto rules. Michael Saylor said in an X post that the Securities and Exchange Commission, Commodity Futures Trading Commission, and Treasury Department could move forward under existing law while the CLARITY Act remains stalled. “With CLARITY stalled, I expect the SEC, CFTC, and Treasury to advance rules under existing law,” Saylor wrote. “But progress does not have to wait for Congress.” His comments presented the failed vote as a possible opening for Bitcoin rather than a complete halt to U.S. crypto policy. According to Saylor, banks could add more Bitcoin custody services and offer additional loans backed by the asset, creating new channels for capital to ...