The CLARITY Act Could Be in Trouble. This is the Only Crypto I'm Buying Right Now.
Bitcoin will thrive, regardless of what happens to the CLARITY Act.
Overview
The House of Representatives passed the Digital Asset Market Clarity (CLARITY) Act last July, which aims to establish a clearer federal framework for digital assets. But it remains in limbo in the Senate, and it probably won't be passed and signed into law anytime soon.
It's stalled due to conflicts over stablecoin yields, which banks claim pose a major threat to their cash deposits, and over how public officials disclose their own crypto holdings. That standoff could be a red flag for leading stablecoins like USD Coin, as well as altcoins like XRP and Solana that require more regulatory clarity. In this environment, I'd only buy one cryptocurrency: Bitcoin (CRYPTO: BTC).
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Originally published at www.fool.com.