#美国非农就业数据未达市场预期 The US cryptocurrency regulatory landscape is undergoing a major shift. The "Clear Act" recently passed a vote in the Senate Banking Committee, signaling a potential turning point for the long-standing regulatory ambiguity that has plagued the industry.

The core of this bill is a redistribution of authority. The primary regulatory functions for spot markets will shift from the US Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). Mainstream crypto assets like Bitcoin and Ethereum will officially be classified as "digital commodities," no longer subject to traditional securities regulations. This change addresses a long-standing legal ambiguity—crypto assets finally have a clear legal identity.

The bill also explicitly distinguishes between security-type and commodity-type digital assets, outlining unprecedented clear boundaries for the entire market. The long-standing uncertainty that has overshadowed the industry is expected to dissipate. The pathway for traditional financial institutions to enter this space is also being paved, with compliance doors officially opening. It is foreseeable that more mainstream capital will accelerate its entry.

Next, the bill needs to be reviewed by the full Senate and then sent to the President for signature. Once these procedures are completed, the US crypto sector will usher in a milestone legal framework. The legal status of assets like Bitcoin and Ethereum will be institutionally protected, and the long-suppressed growth momentum of the industry is expected to be unleashed. A new growth cycle may thus begin.