It's only right for alts, but not for bitcoin. The fact that bitcoin gets no benefit from this draft because it's a legitimate asset because it's considered as a commodity in US and ruled under CTFC. So this draft is only making the altcoin to be seen in the same state as bitcoin(commodity).
On other hand, seeing so many democrats who feel contradicted with this makes me skeptical this will be passed.
Right. Because altcoins are considered as securities by the US government. I remember when former SEC chairman Gary Gensler used to classify altcoins as securities. The Clarity Act might be the ideal solution for altcoin adoption. But I'm having my doubts whenever it will pass and become law.
Like I've stated before, there's too much resistance from Democrats. At least we know, Bitcoin will carry on as usual regardless of what regulatory approach the US government takes. Only if it remains decentralized and censorship-resistant, of course.