Veteran trader Peter Brandt said the likely passage of the U.S. Transparency Act is unlikely to have a major impact on bitcoin prices, following indications that it could be passed by Congress as early as January.
“Is it a world-shaking macro development? No. It’s certainly necessary, but it’s not something that will redefine value,” Brandt told Cointelegraph on Friday. “It's not a earth-shattering event to see an asset become regulated, especially one that passionate investors never wanted to see regulated,” he added.
His comments came after White House crypto and AI chief David Sachs said on Thursday that he was “closer than ever to passing a landmark crypto market structure bill.”
“I look forward to finishing the job in January,” Sachs said.
Some say transparency laws are already “written in.”
While Blunt does not believe the Clarity Act will trigger Bitcoin (BTC) back to its all-time high of $125,100, he emphasized that the bill is still an important step forward for the broader cryptocurrency industry. “The Clarity Act will be positive as it will significantly clarify the regulatory structure of crypto assets,” he said.
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Leadon Chief Investment Officer John Glover echoed Brandt’s sentiments, telling Cointelegraph that the likelihood of passage of the Clarity Act is already “priced into the market.”
“We do not expect this event to have a significant impact on the market on the first day,” Glover said, adding that any benefit to price trends is likely to be delayed further.
“This is another step towards widespread acceptance of Bitcoin and ETH as investable assets, so I still expect the price trajectory to be upward over time,” Grover said.
Brandt opined that Bitcoin is in a bear market, but said the clarity method could mean his “downside bias is modest.”
Brandt says Bitcoin could fall to $60,000 in 2026
“I think the charts suggest that Bitcoin could trade up to the $60,000 level, possibly in the third quarter of 2026,” he said. According to CoinMarketCap, this represents a 31% drop from the $88,000 Bitcoin price at publication.
Related: SEC Commissioner Says Cryptocurrencies are Helping to 'Prompt a Re-Evaluation' of Privacy
The bill has become a top concern not only for the crypto industry but also for pro-crypto lawmakers.
On December 9, Wyoming Sen. Cynthia Lummis, a member of the U.S. Senate Banking Committee and one of the most prominent legislative sponsors of digital asset market structure efforts, said she hopes to take next steps to advance the bill in the coming days.
The senator said the crypto industry is “a little concerned” about the bill's progress, adding that the draft “changes significantly every few days” during bipartisan discussions.
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