TheBlock
Bitget chief executive Gracy Chen said the exchange will push into the US market with or without the Clarity Act, signaling that the wait-and-see posture that froze overseas expansion plans in 2022 is over.
Chen's stance reflects a growing pessimism about the Clarity Act's chances of passing before midterm elections. Rather than wait on a federal market-structure bill that may not arrive on schedule, Bitget is opting to clear US regulatory thresholds on a venue-by-venue basis.
Why it matters
The Clarity Act, the long-debated federal framework for digital-asset market structure, has been viewed as a precondition by several offshore exchanges weighing US entry. A CEO publicly breaking with that wait-and-see frame is a signal that the industry is recalibrating expectations: regulatory clarity, if it comes, will arrive venue by venue through state licenses, BitLicense equivalents, and individual federal engagements rather than as a single sweeping bill.
Market impact
For US traders, the more immediate read is competition. New venue entry tends to compress fee structures, broaden perpetual futures access, and tighten spreads on majors. Chen's framing also reframes the Clarity Act debate from binary (passes or stalls) to incremental, with exchanges able to operate inside the US under existing frameworks while federal legislation continues to work through Congress.
Frequently asked questions
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Why is Bitget expanding into the US without waiting for the Clarity Act?
CEO Gracy Chen said she has grown more pessimistic about the Clarity Act passing before midterm elections, so Bitget is pursuing US regulatory thresholds venue by venue rather than waiting on a federal market-structure bill.
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When did Bitget originally shelve its US expansion plans?
Bitget froze its US expansion plans in 2022 amid regulatory headwinds. Gracy Chen is now leading the renewed push into the American market.
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What is the Clarity Act?
The Clarity Act is the long-debated federal framework for digital-asset market structure. It has been viewed by several offshore exchanges as a precondition for US entry.
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How would Bitget's US entry affect crypto traders?
New venue entry historically compresses fees, broadens perpetual futures access, and tightens spreads on majors like BTC and ETH, increasing competition for incumbent US exchanges.
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Does Bitget's move change the outlook for the Clarity Act itself?
Chen's framing reframes the legislative debate from binary (passes or stalls) to incremental, with exchanges operating inside existing US frameworks while federal market-structure legislation continues through Congress.
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