Two catalysts are converging within a 72-hour window that analysts are calling a potential inflection point for the next crypto cycle leg. On Thursday, the Senate Banking Committee marks up the Clarity Act — a 309-page bill that simultaneously addresses the four structural barriers that have kept institutional capital on the sidelines: regulatory status, bank access, yield infrastructure, and bankruptcy protection. Any token underlying a spot ETP as of January 1, 2026 receives codified non-security status — permanent, not subject to reversal by a future SEC chair. National banks, state banks, and credit unions gain explicit authority to custody, lend against, and market-make in digital assets with no prior approval required.
On Friday, Kevin Warsh is widely expected to be confirmed as Fed chair, replacing Jerome Powell whose term officially ends that day. Warsh has publicly described…
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