Clarity Act Hits Roadblock: Banks and Crypto Stalled Until 2027

The Clarity Act has stalled in the US Senate, leaving both banks and the crypto industry in limbo. The bill's fate is uncertain, as senators have left Washington for their summer recess until September, with midterm elections in November likely to slow legislative work.

Capitol Hill insiders told The Banker that it is unlikely the Clarity Act will be passed before 2027. This leaves a stalemate between banks and crypto firms, who are fighting over the landmark bill's trillion-dollar implications.