US Senate has 4 days to save CLARITY Act as odds fall to 30% – Galaxy Digital says
Galaxy Digital said the Senate has four working days to save the CLARITY Act, as it cut passage odds to 30%.
In a July 24 note to clients, the crypto investment firm lowered its estimate for CLARITY Act chances this year from 50%, saying lawmakers need a deal by July 30 to leave enough time for floor proceedings before the August recess.
Alex Thorn, Galaxy Digital's head of research, said:
“[CLARITY Act] is a strong bill that improves regulation, protects investors, promotes innovation, grows USA the time for incremental negotiations is over. we need a last-ditch effort.”
The warning came just two days after US Senate Republicans released an updated 616-page combined version of the crypto market-structure bill following months of negotiations.
The new text merges measures approved by the Senate Banking and Agriculture committees while adding government ethics restrictions, law-enforcement provisions and changes to the GENIUS Act.
CLARITY Act updated draft fails to unlock Democratic votes
The combined bill includes several concessions aimed at resolving disputes that had stalled negotiations for months.
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