Big news: Trump backs down as the CLARITY bill breaks through the key bottleneck

After months of negotiation, Trump agreed to ethical provisions in the bill that would restrict public officials from profiting from digital assets. The earlier conflict stemmed from Trump’s $1400 million-scale crypto asset gains, and Democratic lawmakers had demanded full disclosure of his holdings.

The bill has already passed the House of Representatives and cleared the Senate Banking Committee review. The Senate needs to complete the vote in early August. Coinbase has stated support for the new rules. On Polymarket, the probability of the bill passing had fallen to a low level earlier, but current expectations suggest a rebound.

Once the bill takes effect, the U.S. crypto market will see unified federal regulatory rules, clarifying the jurisdiction of the SEC and the CFTC, and greatly lowering compliance barriers for institutional capital to enter the market—creating a tailwind for Bitcoin’s long-term outlook. #btc@btc