News from the White House indicates that the crypto supervisor has revealed that the CLARITY Act is expected to be submitted to the Senate for a vote next month. Once this bill is implemented, it will directly affect the regulatory landscape of the US crypto market. Many analysts have already begun to advocate for "bull run signals," but there are many nuances to consider that need careful dissection.

First, let's talk about what problems the bill itself aims to solve. The core goals of the CLARITY Act are twofold: first, to clearly distinguish the legal attributes of crypto assets, specifically which are securities and which are commodities; second, to clarify the regulatory authority boundaries between the SEC and CFTC. The fundamental reason for the chaos in the U.S. crypto market has been this—two regulatory agencies have ambiguous responsibilities, and project teams are unclear about whom to connect with, resulting in a lack of transparency in market rules. Once the bill is enacted, it theoretically could make everything orderly.

But here we must be vigilant about several risk points. The most common pitfall is chasing the so-called "compliance benefit coins". There are already voices in the market promoting that certain coins will surge due to the passage of a bill, claiming these are "SEC-friendly coins". The problem is that the bill has not yet been formally passed, and all identifications are speculative. Even if it is passed, there remains uncertainty about which coins will be classified as "commodities". Many so-called "benefit coins" may essentially be air coins, completing a round of harvesting under the guise of favorable policies before disappearing.

A more rational approach is to observe the specific content of the bill's details and formulate investment strategies only after the regulatory framework is clearly defined. Short-term policy expectations often easily evolve into a scenario of "good news fully priced in becomes bad news," which is not uncommon in the crypto market. At this stage, the most important thing is to understand the long-term impact of the bill, rather than chasing short-term trends.