According to the media, the focus of discussions around the United States CLARITY Act is shifting from “adoption” to “what happens after adoption”. According to Andréessen Horowitz, the head of government, Colin McCune, it was not the details of the text that the market underestimated, but rather the long-term policy signals that had been released after the adoption of the legislation.

The Stable Currency Act is in line.

In the case of McCune, the United States stabilization currency-related legislation, the GENIUS Act, for example, regulatory expectations for a clearer regulatory framework have led to a marked increase in entrepreneurship projects, financing opportunities and the participation of traditional financial institutions in the area of currency stabilization. That, in his view, meant that the funds that had been expected would move faster when Washington released a clearer policy direction.

In his view, the delay in large-scale institutional entry was not due only to the lack of a specific rule, but also to the lack of sustainable policy certainty. When the market fears a change in the focus of the next Government, the next regulator or law enforcement, it is likely that the existing arrangement will be overturned, making it difficult for large institutions to organize their operations over the long term.

Markets value long-term commitments

The article argues that once passed, the significance of the CLARITY Bill is not only to establish a framework, but also to show the market that the United States has made longer-term policy choices on the direction of digital asset regulation. For enterprises, investors and developers, such legislative signals can more easily support multi-year inputs than short-term regulatory statements.

McCune also stated that the passage of the bill would not be the end point, but the starting point for subsequent rule-making. According to him, it was also crucial that the regulatory body should complete more specific implementing regulations within the next two years after the bill had landed.

  • Following the adoption of legislation, regulatory bodies are required to develop by-laws
  • Possible follow-up implementation period of approximately two years
  • Business and allocation of funds at a pace or as the rules accelerate

Short-term focus in a two-week window

McCune believes that developers, institutions and offshore capital that have delayed access to the United States market in the past few years because of uncertain legislation may be able to start the layout more quickly after the bill is passed. He compared the process to a “start-up signal”, suggesting that the long backlog of needs could be concentrated.

He also compared this expectation to the AI industry. The article states that, as AI ' s business path becomes clearer, the related equity and wind investment funds have risen significantly; if the regulatory framework of the encryption industry becomes clear, similar institutional and entrepreneurial activity may grow in the digital asset sector.

Despite recent repetitions around ethical provisions, the protection of developers and anti-illegal financial statements, McCune is optimistic about the future of the bill. The article mentions that the United States Congress was an important window of time for the bill before its recess in August, and that the White House has arranged meetings with senators for the next two weeks or a critical observation period.