Strategy CEO Chairman Michael Saylor Predicts CLARITY Stall Could Push More Capital Into Bitcoin

Strategy Executive Chairman Michael Saylor has predicted the stalled CLARITY Act could shift more capital toward Bitcoin as regulators move ahead without Congress. His comments came after the Senate failed to advance the bill, leaving the SEC, CFTC, and Treasury to shape the next phase of U.S. crypto rules.

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Michael Saylor Sees More Bitcoin Activity Without CLARITY Act

Saylor said regulators could continue using existing law even if Congress does not pass the CLARITY Act. He expects the SEC, CFTC, and Treasury to move forward with crypto rules under their current authority.

He anticipates that banks will increase their Bitcoin custody offerings and Bitcoin-backed lending. According to Saylor, those changes could direct more capital toward Bitcoin and other forms of digital credit.

“With CLARITY stalled, I expect the SEC, CFTC, and Treasury to advance rules under existing law,” Saylor wrote. “But progress does not have to wait for Congress,” he added.

Additionally, Saylor referred to the GENIUS Act, which already offers a structure for stablecoins. He further wrote in another post, “The only clarity you need is Bitcoin.”

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Coinbase CEO and Bernstein Look to SEC and CFTC

Coinbase CEO Brian Armstrong said something similar after the vote by the Senate. Although he was disappointed with the failure to move forward with the CLARITY Act, he noted that regulators already have tools in place to establish better rules.

Armstrong said the SEC and CFTC could begin working more directly under existing authority. He also said that bipartisan discussions could proceed, with the possibility of another CLARITY Act vote still.

Bernstein analysts also expect the two agencies to become more active. The firm, in a note led by Gautam Chhugani, said in months of legislative negotiations, the rulemaking could be “aggressive and swift”.

The analysts believe that token classification, decentralized finance, self-custody and tokenized equities are four areas that regulators will focus on. They also believe they will get some movement on real-world asset perpetual futures and single-stock perpetual products.

CLARITY Act Could Still Return to the Senate

The Senate procedural vote went 49-50, with the bill falling 11 votes short of the 60 required to move forward. Negotiations had reportedly stalled over ethics provisions tied to President Donald Trump’s crypto interests.

However, the failed cloture vote does not automatically remove the CLARITY Act from consideration. The measure can be placed on the Senate calendar and could be given another vote if sufficient numbers of supporters come forward.

Crypto industry figures have also continued reacting to the setback, with Ripple CEO Brad Garlinghouse blaming politics for overtaking the policy and noting a post-mortem was needed.