CLARITY Act Hangs in Balance as Senate Votes Loom
The Senate's consideration of the CLARITY Act hangs in the balance as it faces a crucial vote on September 15, requiring 60 votes to advance. Despite President Donald Trump's last-minute ethics concession, fresh objections from Democrats and banking groups have put the bill at risk. Analysts remain bullish on Bitcoin, Ethereum, and XRP, predicting price targets of $80K for BTC, $3,000 for ETH, and $4-$7 for XRP.
Republican senators released a 635-page draft of the CLARITY Act, incorporating 126 changes requested by Democrats. However, Senator Adam Schiff expressed concerns that the ethics restrictions 'don't go far enough' and would not apply to the first family. Banking trade groups also criticized the bill's stablecoin circuit breaker provision.
Failure to pass the CLARITY Act would prevent the Senate from formally taking up the legislation, making it difficult to revive before the November midterm elections. Analyst Crispus Nyaga believes Bitcoin could still test $80,000 despite political and monetary risks, while Ted Pillows predicts Ethereum will reclaim its resistance level of $2,550 if the bill passes.