#Gate广场五月交易分享 Tonight, the U.S. Congress is about to give Bitcoin a "get out of jail free card"

A bill called the "CLARITY Act" (Chinese: "清晰法案"/Crypto Market Structure Act), which sounds like a school rule, could turn the entire crypto market upside down by Q2 2026?
Recently, Bitcoin's price suddenly shot up like a bamboo shoot after rain, breaking through the $80,000 mark. Many are still looking for golden crosses and death crosses on the candlestick charts, but the real trigger is hidden in the 309-page bill just released on Capitol Hill in Washington.

These days, the hottest topic in the crypto world is: What exactly is this bill? Is it good news or bad news for Bitcoin? Will it affect Bitcoin's rally in the second half of the year? Today, we will dissect this serious yet valuable bill, so you can immediately understand which turning point in history we are currently at after reading.

1. Who exactly is the police in charge of the crypto world in the U.S.?
To understand the bill, we first need to grasp how chaotic the scene used to be. Over the past decade, U.S. regulators have been a complete mess. The SEC (Securities and Exchange Commission) considers all coins as stocks and wants to regulate them accordingly; the CFTC (Commodity Futures Trading Commission) disagrees, saying that assets like Bitcoin are clearly commodities and should be under their jurisdiction. The two giants bicker, and who ends up suffering? Projects and retail investors. The direct consequence of this "immortal fight" is that for many years, project teams don’t even know if they will receive a court summons tomorrow. This business environment is colloquially called "enforcement equals regulation"—no clear rules are given normally, but once something happens, they sue you. As a result, many large institutional investors like pension funds and insurance companies, which are "foolish but have lots of money" and extremely conservative, have never dared to enter the market. Their compliance confidence is so low that they wouldn’t risk their users’ retirement funds on an asset that could be defined as an "illegal security" at any moment.

2. What exactly is written in the 309-page PDF?
If the bill is enacted, how will the world change?
First, Bitcoin and Ethereum are directly granted a "get out of jail free card." The bill explicitly states that for assets that had approved spot ETFs before January 1, 2026 (i.e., BTC/ETH), the SEC can no longer claim these are securities. The final ruling is that they are commodities, under the jurisdiction of the CFTC. Bitcoin’s fundamentals are stabilized, and we no longer have to worry about policy risks every day. Second, the regulatory blueprint begins to take shape. The SEC and CFTC are no longer speaking past each other. The bill draws a clear boundary: decentralized underlying network assets are commodities; but tokens with obvious financing attributes still fall under the SEC’s jurisdiction. Lastly, DeFi should not try to muddy the waters. The bill explicitly states that if a project can freeze accounts or secretly leave backdoors, it is not truly DeFi. Just admit it and follow anti-money laundering rules like a financial institution. Want to issue tokens and harvest profits? Sure, but prepare a case first. The harshest part is that stablecoins are also included this time. The bill bans intermediaries from treating users’ idle stablecoins as bank deposits and freely paying passive interest, effectively locking compliant stablecoins within a framework of strict reserve regulation.

3. More exciting than a TV drama: Banks are desperately fighting the bill.
By now, you might ask: With such a clear and good thing, why not just pass it immediately? The truth is, the behind-the-scenes knife-wielders are Wall Street’s old-school bankers.
According to the logic of this bill, if users treat stablecoins like USDC as "new digital cash" for daily payments, not only will transaction friction decrease significantly, but they can also bypass traditional banking systems. This would expose the traditional banks that rely on extracting deposit spreads from millions of depositors to their core vulnerabilities. How strong is this resistance? The American Bankers Association even incited all bank CEOs to pressure senators, demanding to kill the bill at the last moment or at least block any activity rewards for stablecoins. That’s why recent votes on the bill have been repeatedly delayed—sometimes it’s not just political incompetence, but the vested interests’ power that can suppress innovation.

4. Will the bill pass? When will it be decided?
Now, look back to May 2026. We are very close to the finish line.
The bill passed the House of Representatives in July 2025 with a high support rate of 294 to 134. The real fight is in the Senate. But recently, the momentum has clearly shifted. The Senate Banking Committee not only published the final 309-page compromise text but also scheduled the most important revision review for May 14, 2026. Moreover, Trump’s circle has been exerting maximum pressure, and crypto heavyweight Mike Novogratz even gave a 70% chance of passing within the year in an interview. The prediction markets follow suit, and the probability of the bill being signed into law by 2026 has soared to over 67%. Pay attention to the timeline: once it drags past August this year, the chaos of the U.S. midterm elections could delay this bill indefinitely.

5. Can it influence Bitcoin’s rise?
After discussing the bill, let’s talk about the part everyone cares about most—can it make money? Some say that second-tier public chains like Ethereum and Solana are the real beneficiaries of the bill’s liberation, because once big funds get reassurance, they dare to buy their spot holdings. This logic is entirely correct. If you are a committed institutional investor and previously couldn’t tell whether SOL was a security or a commodity, now that the classification is clear, your first reaction would be to fully accumulate these high-quality assets. Their potential rebound might surpass Bitcoin’s. But that doesn’t mean Bitcoin won’t benefit. On the contrary, this comprehensive regulatory foundation will officially usher Bitcoin’s "institutional bull market" into a second movement. Previously, only pioneers used ETFs to open accounts; in the future, pension funds and sovereign wealth funds with long-term liabilities, which must comply strictly, will dare to include Bitcoin in their family asset allocations under the CLARITY glow. As the exempted first-choice commodity, Bitcoin will ultimately absorb most of the benchmark funds flowing into this framework.

6. What is the biggest risk?
Be aware that although the future looks bright, the road will be bumpy.
Currently, the volatility is still driven by expectations.
If, on May 14, during the Senate review, any major party suddenly flips, or the aggressive lobbying groups of banks really clamp down on the key clauses, short-term sentiment could collapse instantly. If you have high leverage on your contracts, this policy-related black swan could be fatal. Someone joked that Coinb’s CEO even considered withdrawing support for the bill because they thought, "Better no law than a bad law." If the bill passes in a heavily compromised version by the banks, there will be short-term pain, but in the long run, it remains a heavyweight bulldozer capable of tearing open the old financial system.