Dan Gambardello: Crypto Bull Market Does Not Depend on the CLARITY Act

Crypto market commentator Dan Gambardello has rejected the idea that the CLARITY Act must pass before the crypto bull market can continue expanding.

His August 7 post arrived as the US Senate considered its next procedural step for H.R. 3633, a bill that could affect ADA trading venues, Cardano DeFi protocols and noncustodial infrastructure operating in the United States.

Gambardello Separates Regulation From the Crypto Cycle

Gambardello, founder of Crypto Capital Venture and a longtime commentator on Cardano and the wider crypto market, has supported the CLARITY Act for more than a year.

His August 7 post separated the industry’s need for regulatory clarity from the forces driving the broader crypto market cycle.

Dan Gambardello distinguishes the regulatory importance of the CLARITY Act from the continuation of the crypto bull market. Source: X/@dangambardello

The post did not include a price target, market timeline or Cardano forecast. Gambardello’s position was limited to the argument that crypto market expansion can continue while the legislative process remains unfinished.

The distinction followed several of his recent posts about Senate negotiations, potential procedural votes and political pressure surrounding the legislation.

CLARITY Act Awaits Senate Floor Action

The US House of Representatives passed the Digital Asset Market Clarity Act in July 2025 by a vote of 294 to 134.

The Senate Banking Committee advanced an amended version on May 14, 2026, with 15 members voting in favor and nine against. The legislation still requires action from the full Senate.

Senate Banking Committee Chairman Tim Scott called for Senate action before lawmakers left Washington. However, the published August 7 floor schedule did not list H.R. 3633, while the official Senate calendar identifies August 10 through September 11 as a State Work Period.

The bill would establish a federal framework dividing responsibilities across digital asset markets. The SEC would retain authority over securities and related investment contracts, while the CFTC would receive a broader role in digital commodity markets. Exchanges, brokers and dealers covered by the legislation would face new registration, disclosure and operational requirements.

Because the Senate Banking Committee amended the version previously approved by the House, both chambers must ultimately approve identical language before the legislation can be sent to the president.

DeFi Rules Could Affect Cardano Builders

The Senate committee text distinguishes decentralized finance trading protocols from systems in which a person or coordinated group retains material control.

A protocol could fall into the nondecentralized category if someone can materially alter its functionality or operating rules, restrict access or censor user activity. Routine transaction validation, node operation, oracle services and participation in defined security responses do not automatically establish that control.

For Cardano DeFi teams, the proposed framework would place legal weight on how smart contracts, upgrades, governance permissions and user assets are controlled in practice. Describing a protocol as decentralized would not determine its regulatory treatment.

The legislation also includes the Blockchain Regulatory Certainty Act. Under that section, noncontrolling developers and infrastructure providers would not be treated as money transmitters solely for publishing software, supporting self-custody or maintaining distributed ledger infrastructure.

The protection applies when a developer or provider lacks both the legal right and unilateral ability to control or execute transactions involving user assets. The text preserves liability for conduct outside those protected activities, including knowingly transferring funds derived from or intended to support unlawful activity.

Registered digital asset intermediaries using DeFi protocols would also need risk management systems covering money laundering, sanctions, fraud, market manipulation and cybersecurity. The proposed framework permits the use of distributed ledger analytics and requires procedures for deciding whether certain transactions should be executed, rejected or suspended.

The bill does not name or automatically classify ADA. Any direct effect on Cardano would depend on the final statutory language and the subsequent rules issued by US regulators. Until those steps occur, the proposed protections for noncontrolling developers and the new compliance requirements for intermediaries have no legal effect, while Gambardello’s market argument remains independent of the congressional timeline.