A claim has been raised that the Clarity Act, a cryptocurrency regulatory bill under review in the United States, could be a key variable in a market recovery.

On July 29 local time, blockchain media outlet CoinPost reported that Tom Lee (톰 리), co-founder of asset manager Fundstrat and chairman of BitMine Immersion Technologies, said in a CNBC interview that the bill could be a turning point that brings a single set of rules to the U.S. crypto market.

The Clarity Act focuses on classifying cryptocurrencies and concentrating supervisory authority with the U.S. Commodity Futures Trading Commission (CFTC), while streamlining a regulatory system split by state. Lee said if rules differ by state, companies designing nationwide products find it harder to take on risk. For companies seeking to operate across the U.S. market, differing regulatory standards make it more difficult to plan product launches and operating strategies.

He compared that structure to the 1934 launch of the U.S. Securities and Exchange Commission (SEC). He pointed out that investors at the time also struggled to operate under different state-by-state regulations, but market order was streamlined when a single federal standard was created. Lee said, "As cryptocurrencies increasingly function like money, like points or reputation scores, there needs to be a single regulator that cuts across them."

He also mentioned a link between a market recovery and regulatory streamlining. Lee cited Japan, Russia and Europe as already pushing similar regulatory overhauls, and assessed that acceptance moves in other regions are one reason for the recent market recovery. He also raised concern that if the United States responds too slowly, it could hand regulatory leadership to other countries.

He also stressed that forces supporting the bill are expanding beyond the crypto industry. Lee mentioned Charles Schwab and Franklin Templeton and said support is spreading in mainstream finance as well. That is read as a sign that the Clarity Act is being accepted not as an industry-only demand but as an institutional overhaul needed by existing financial institutions.

Still, prospects for legislation remain unclear. That is because there is not much time left to review the bill ahead of U.S. midterm elections, and revisions and concessions to persuade opponents have already been made several times. Lee also did not guarantee the bill would pass. He said, "Some forces are demanding additional revisions," adding, "It would not be strange no matter what happens."

In this situation, the Clarity Act's direction remains a variable that will determine the pace of institutionalisation of the U.S. crypto market. If a single regulatory system is established, companies can secure clearer standards for designing nationwide services and products. If review is delayed further, the United States could face the possibility of falling a step behind other regions that are already moving ahead with institutional overhauls.