How new American regulations could bring three trillion dollars into the crypto market

NEW YORK, January 2025 – Goldman Sachs analysts have released a study examining the proposed U.S. regulatory framework for digital assets as a decisive factor in attracting massive volumes of institutional capital. Unlike previous optimistic assessments, this report relies on quantitative analysis of the actual needs of large financial players, demonstrating that regulatory clarity is not a wish but an absolute prerequisite for moving money.

The bill, known as the CLARITY Act (Crypto Asset Regulatory Framework and Investor Transparency Act), is seen as a tool that could radically change the architecture of the American digital asset market. The Senate hearing scheduled for January 15 will be a key moment to assess the real chances of this initiative’s success.

The Machinery Holding Back Institutional Money

The problem described by Goldman Sachs is simple but profound: huge amounts of managed capital remain outside the crypto market not due to lack of interest, but because of legal uncertainty. An internal survey of the bank’s institutional clients revealed the following:

• 35% of large investors cite regulatory uncertainty as their main barrier to entering this market
• Crypto assets account for only 7% of their total managed assets
• But 71% of respondents have plans to increase exposure over the next 12 months

These figures tell a clear story: demand exists, but it is blocked by regulatory doubts. This is not speculative interest — these are strategic investments that require legal certainty.

Regulation Disconnects: What the CLARITY Act Proposes

The current situation is characterized by jurisdictional chaos. SEC and CFTC have been competing for influence over different segments of the market for years, leaving crypto companies and institutions in a gray zone. The CLARITY Act proposes a fundamentally different approach:

Clear asset classification. The bill distinguishes which digital assets fall under SEC (as securities) and which — under CFTC (as commodities). This relieves lawyers from guessing and provides institutions with clear compliance pathways.

Licensing and standards. Crypto exchanges and custodians will be required to implement federal standards for capitalization, asset custody, and disclosure. For institutions, this means counterparty risk reduced to the level of traditional financial intermediaries.

A single national framework. Instead of fragmented regulation by individual states, a federal standard simplifies operational scale.

These changes address exactly what institutions demand: predictability, security, and scalability.

How Numbers Transform in Practice

Goldman Sachs doesn’t just make optimistic forecasts — its analysis is based on direct data. The survey revealed an astonishing pent-up demand. If 71% of institutions plan to increase crypto exposure, and many are held back solely by regulatory issues, then passing the CLARITY Act could unlock tens of billions, if not trillions, of dollars.

Goldman’s argument lies in economic logic: bigger money flows where risk is lower. Clearer regulation = less legal risk = larger investments.

Geopolitical Context

The United States is not only competing for the domestic market. The European Union has already implemented MiCA, Hong Kong is expanding its licensing system, and other jurisdictions are actively building their own frameworks. The delay in American legislation means a talent drain, innovative companies, and capital moving to other regions.

Goldman indirectly points to this: institutional capital is a mobile resource seeking the most favorable conditions. If the U.S. remains uncertain, money (and accordingly — market development) will go elsewhere.

Political Path: Realism and Ambitions

The January 15 Senate hearing is a critical point but not the end. Political analysts note bipartisan support for the need for regulatory clarity, though disagreements remain on details and agency authority.

History shows that similar bills often face delays at various stages. However, Goldman Sachs and other major financial institutions’ involvement on the bill’s side adds political pressure. Their argument — clear rules facilitate capital flows and market stability — is hard to oppose regardless of ideological stance.

Goldman Sachs has officially announced an ambitious goal: passage by the first half of 2025. It’s optimistic but not impossible if Senate leadership is motivated.

What This Means for the Market

If the bill passes, the implications will be significant. Not only will existing institutions increase their positions, but new investor classes — pension funds, endowments, conservative asset managers — will gain a legal basis for entry.

For ordinary crypto investors, this will mean deeper markets, more liquidity, development of new institutional products (such as ETFs), and potentially less concern over platform security due to increased regulatory oversight.

However, the reality is that this bill is only the first step. Even if it passes, its actual implementation will take time, and market reactions could be unpredictable.

One thing is clear: the next few months will be decisive in shaping the future role of the U.S. in the global crypto market and for millions of investors awaiting a regulatory certainty signal.