The cryptocurrency sector is experiencing significant regulatory movement in both the US and Japan. In the US, the Clarity Act is gaining momentum with renewed support from Coinbase CEO Brian Armstrong and US Treasury Secretary Scott Bessent, following revisions addressing concerns about stablecoin yields and banking impacts. The Senate Banking Committee is slated to vote on the bill before the end of April. Simultaneously, the SEC is reviewing NYSE American’s proposal to list options on the Grayscale Crypto 5 ETF, signaling a potential expansion of institutional access to crypto derivatives. Japan is advancing a new legal framework classifying cryptocurrencies as financial instruments, introducing trading rules, a 20% tax on gains, and allowing institutional participation. This includes a ban on insider trading and disclosure requirements for 105 tokens. Despite these positive developments, Bitcoin’s supply in profit has sharply declined, mirroring previous bear market levels, raising concerns about continued downward pressure. The industry's influence in Washington is also being closely watched.
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