Clarity Act Approval Odds Cut to 30% as Senate Recess Looms

The United States Senate's summer recess is set to begin on August 7, leaving time running out for the Clarity Act to be approved.

Alex Thorn, head of research at Galaxy Digital, believes the bill still has a path forward despite the odds being cut to 30% by Galaxy Research due to the lack of secured votes.

The final text of the Clarity Act was published on Wednesday, but the clock is ticking for its approval. David Solomon, CEO of Goldman Sachs, expressed support for the text, stating that it 'is not perfect'.

A group of Democratic senators rejected the latest draft of the CLARITY Act, arguing that its provisions would lead to DOJ overreach on enforcement. They generally support crypto legislation but have concerns about this specific bill.