Clareza en la regulación de criptomonedas en los EE. UU. y su impacto en la adopción institucional

The U.S. digital asset market stands at a pivotal inflection point. For years, regulatory ambiguity has stifled institutional participation in crypto, with conflicting jurisdictions and unclear definitions creating a minefield for investors. However, the passage of the 2025 Digital Asset Market Clarity Act (CLARITY Act) by the U.S. House of Representatives on July 17, 2025, marks a decisive shift toward structured oversight, potentially unlocking a new era of institutional adoption. By delineating clear boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the Act addresses long-standing regulatory fragmentation, offering a blueprint for market stability and investor confidence according to legislative records.

A Framework for Clarity: The CLARITY Act's Key Provisions

The CLARITY Act introduces a tripartite classification system for digital assets: digital commodities, investment contract assets, and permitted payment stablecoins as defined by policy trackers. Digital commodities-assets derived from decentralized blockchain protocols like Bitcoin (BTC) and Ethereum (ETH)-fall under the CFTC's jurisdiction, while investment contracts (e.g., tokenized securities) remain under the SEC's purview. This division resolves the "regulatory tug-of-war" that previously left market participants exposed to inconsistent enforcement actions according to market analysis.

Notably, the Act mandates joint rulemaking by the SEC and CFTC to define these categories and establish consistent standards as detailed in regulatory reports. For instance, the CFTC will oversee digital commodity spot markets, requiring exchanges, brokers, and dealers to register under its supervision. This creates a parallel to traditional commodity markets, where the CFTC already regulates futures and derivatives. Meanwhile, the SEC's focus on investment contracts aligns with its existing authority over securities laws, ensuring continuity for tokenized assets like real estate or equity-linked tokens according to policy updates.

However, the Act excludes stablecoins, which were previously addressed in the GENIUS Act. While this omission leaves a regulatory gap, the broader normalization of stablecoins under federal and international frameworks (e.g., the EU's MiCA Regulation) suggests that their role in facilitating institutional transactions will remain robust according to industry analysis.

Catalyzing Institutional Investment: Reducing Risk and Enhancing Compliance
Regulatory clarity is a cornerstone of institutional adoption. Historically, institutions have hesitated to enter crypto markets due to fears of regulatory backlash and operational uncertainty. The CLARITY Act mitigates these concerns by providing a predictable legal framework. For example, the Act's registration regime for digital commodity exchanges and brokers under the CFTC creates a clear compliance pathway, reducing the risk of enforcement actions as noted in compliance guidance. This is critical for asset managers and treasury companies, which now have a standardized model to navigate the market according to investment research.

Data from the Global Crypto Policy Review 2025/26 underscores this trend: in jurisdictions with clear regulatory frameworks (e.g., the U.S., EU, and parts of Asia), 80% of financial institutions announced digital asset initiatives in 2025 according to market data. The CLARITY Act's passage is likely to amplify this momentum, particularly as the Senate Banking Committee finalizes its version of the bill by September 30, 2025 as reported by legal experts.

Moreover, the Act aligns with a broader shift in regulatory tone. The SEC's rescission of Staff Accounting Bulletin 121 in 2025, which had barred traditional banks from offering digital asset custody services, and its issuance of no-action letters for securities tokenization schemes, signal a move toward innovation-friendly policies according to regulatory updates. These changes, coupled with the CLARITY Act, create a cohesive ecosystem where institutions can confidently deploy capital.

Historical Precedents: Regulatory Clarity as a Catalyst

The CLARITY Act is not an isolated event but part of a global trend toward normalization. The 2025 GENIUS Act, which established a federal framework for stablecoins, served as an international benchmark, accelerating stablecoin policy development in markets like the UK and Singapore according to industry reports. Similarly, the EU's MiCA Regulation, which took effect in January 2025, harmonized crypto rules across the bloc, leading to a 40% increase in institutional-grade crypto ETPs (exchange-traded products) in the first half of 2025 as documented in market analysis.

In the U.S., the Basel Committee's reassessment of prudential rules for banks' crypto exposures further signaled a softening of regulatory attitudes according to global policy reviews. These precedents demonstrate that structured frameworks reduce systemic risk while attracting capital. The CLARITY Act builds on this momentum, addressing the U.S. market's unique challenges and positioning it as a global leader in digital asset innovation according to market commentary.

Conclusion: A New Dawn for Institutional Crypto

The CLARITY Act represents a watershed moment for U.S. digital assets. By resolving jurisdictional conflicts and providing a clear regulatory roadmap, it reduces the friction that has long hindered institutional participation. As the Senate finalizes its version of the bill and the SEC and CFTC draft implementing rules, the market can expect a surge in capital inflows, particularly from pension funds, endowments, and hedge funds seeking diversified exposure to crypto.

For investors, the implications are clear: regulatory clarity is not just a compliance issue-it is a catalyst for growth. The CLARITY Act, alongside complementary policies like the GENIUS Act and international frameworks, is laying the groundwork for a mature, institutional-grade digital asset market. As the White House and bipartisan lawmakers signal their support, the stage is set for a new era of innovation and investment.