Bitcoin News Today: Bipartisan Crypto Bill Aims to Make U.S. Global Digital Asset Leader

The U.S. cryptocurrency regulatory landscape is inching closer to a landmark overhaul as bipartisan lawmakers finalize the CLARITY Act, a framework aimed at dividing oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Coinbase CEO Brian Armstrong, a vocal advocate for the bill, stated in a recent meeting with 25 senators that the legislation is "90% on the same page," with lawmakers prioritizing clarity for digital assets amid a government shutdown that has delayed other legislative efforts, according to a CryptoFront report. The bill, which addresses contentious issues like decentralized finance (DeFi) governance and stablecoin reward protections, is now in its final stages, with lawmakers aiming to finalize it by Thanksgiving, the report says.

The CLARITY Act's progress has been bolstered by Trump administration actions, including the appointment of Michael Selig as CFTC chair. Selig, who leads the CFTC's crypto task force, pledged to advance the administration's goal of making the U.S. the "Crypto Capital of the World," aligning with broader efforts to attract digital asset innovation, as reported by Yahoo Finance. This move follows President Donald Trump's recent executive order to promote Bitcoin adoption and his pardon of Binance co-founder Changpeng Zhao, who emphasized crypto's potential to "make a lot of money for the country," according to a Yahoo Finance story. Zhao's remarks underscore the administration's push to position the U.S. as a crypto-friendly hub, even as critics like Senator Elizabeth Warren raise concerns about conflicts of interest tied to Trump-backed ventures.

Market reactions to the regulatory momentum have been mixed but largely positive. CoinShares reported $921 million in crypto inflows last week, driven by anticipation of the Fed's rate cuts and the upcoming U.S. ETF launches, according to a BitcoinSistemi report. While Bitcoin attracted $931 million in inflows, Ethereum faced outflows of $168.7 million, reflecting institutional investors' preference for Bitcoin as a safer asset in a volatile market. Meanwhile, crypto firms are accelerating efforts to secure federal banking licenses. Crypto.com, for instance, applied for an OCC charter to expand its custody and staking services, joining peers like Coinbase and Ripple in seeking regulatory clarity, as noted in TradingView coverage.

The CLARITY Act's success hinges on resolving remaining disputes over DeFi and stablecoin oversight. Armstrong highlighted that these two areas remain the "last 10%" of the bill, with lawmakers expected to finalize details before year-end, the report says. If passed, the legislation would mark the first unified regulatory framework for digital assets in the U.S., balancing innovation with investor protection. As Selig and other regulators emphasize modernizing oversight, the outcome of the CLARITY Act could reshape the global crypto landscape, determining whether the U.S. cements its role as a leader in the digital asset era.