What’s next for Bitcoin price as CLARITY Act stalls?

Bitcoin could face a longer period of regulatory uncertainty after the CLARITY Act stalled in the U.S. Senate, although the setback has not changed $BTC’s current classification as a digital commodity.

According to a Sept. 22 report from Bitplanet Research Lab, the failed Senate vote primarily delayed efforts to put the definition of digital commodities and a regulatory framework for spot markets into federal law. The SEC and CFTC’s existing interpretation of Bitcoin remains unchanged.

The Senate rejected a cloture motion to begin consideration of H.R. 3633 on Sept. 15 by 49 votes to 50, with one senator not voting. The motion needed 60 votes to advance, meaning lawmakers never reached the amendment process or a final vote on the legislation.

As crypto.news reported after the vote, Bitcoin faces less regulatory uncertainty from the setback than altcoins, decentralized finance platforms, exchanges and token issuers. Attention has instead moved toward how the SEC and CFTC use their existing powers while legislation remains stalled.

Bitcoin faces limited immediate impact from the CLARITY Act setback

Bitcoin’s existing regulatory treatment provides some insulation from the failure of the bill.