- Anthony Pompliano stated that Bitcoin already enjoys regulatory clarity, as its status as a digital commodity and store of value is widely accepted.
- He said the CLARITY Act is much more important for stablecoins and yield-bearing crypto products than it is for Bitcoin itself.
- Hopes for a Senate vote this week have faded, with focus now turning to next week as lawmakers scramble to begin the cloture process before the August recess.
Bitcoin doesn’t need the Digital Asset Market Clarity Act to succeed, according to Anthony Pompliano, who said on Tuesday that the cryptocurrency already has effective regulatory clarity. The Founder and CEO of Professional Capital Management argued that Bitcoin is not a security but functions as a “store of value,” a consensus the industry itself does not dispute.
However, Pompliano explained that the CLARITY Act’s passage is far more relevant to stablecoins and yield-bearing products. He noted the real fight is over who gets to offer yield, with banks trying to keep crypto firms out of the market.
Meanwhile, hopes for a Senate vote this week have faded, with journalist Eleanor Terrett reporting that Majority Leader John Thune would need to file cloture to force a vote. Industry stakeholders now view next week as imperative for Senate leadership to start the process before the August recess.
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