The Clarity Act is meant to clarify the issue of which regulator has jurisdiction over cryptocurrencies like BTC. Previously, it wasn’t clear—both the SEC said it should be under its control and the CFTC also wanted it. If the SEC regulates it, then cryptocurrencies would be classified as securities, and regulation would naturally be extremely strict. That would be a major bearish factor for BTC and other cryptocurrencies! And the goal of this plan is to place BTC under CFTC oversight—then it would be treated like a commodity, which would be a hugely bullish factor for BTC!

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