CLARITY Act Faces Another Year Before Possible Reconsideration

Congress's efforts to pass the CLARITY Act have hit a roadblock after it failed to reach the 60-vote threshold in a Senate procedural vote, but veteran investor Kevin O'Leary says lawmakers may revisit the bill as soon as early 2027.

O'Leary made this prediction while speaking at the Avalanche Summit in New York, where he noted that Tuesday's procedural vote was expected to fail. He described the bill's chances of passing as 'zero', adding that Congress might return to the legislation next year.

The setback came as lawmakers advanced separate crypto tax legislation, specifically the Digital Asset Tax Certainty Act, which was approved by the House Ways and Means Committee on Wednesday.