President Trump again lobbied Congress to pass the CLARITY Act, which would establish a comprehensive market structure framework for crypto assets, clarifying SEC versus CFTC jurisdiction. However, the legislative calendar is constrained, with limited floor days remaining in this Congress and competing priorities crowding the agenda, making passage increasingly uncertain.
For Armada's crypto-repo desk, CLARITY's fate determines the regulatory classification of BTC, ETH, SOL, and HYPE as collateral and affects which counterparties such as hedge funds, family offices, and market makers can legally engage with crypto-backed instruments. Prolonged regulatory ambiguity increases documentation risk and may deter institutional counterparty onboarding.