CLARITY Act Passage Odds Plummet to 10% as Senate Clock Ticks Down
The passage of the CLARITY Act in the US Senate is facing significant obstacles. Galaxy Digital has reduced its estimated probability of the bill passing to just 10%.
This comes after lawmakers return from their August recess with a limited working period. The Senate has only 14 scheduled session days before its October election recess, and a procedural vote on September 15 could be crucial in determining the bill's fate.
The CLARITY Act aims to set federal rules for digital asset markets, dividing oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission. However, stablecoin rewards and ethics provisions remain major sticking points, with some lawmakers pushing for stronger anti-money laundering controls and others seeking greater protections for community bank deposits.
The bill's passage is not a done deal yet, but failure to reach 60 votes on September 15 could effectively halt it this year. The outcome will have significant implications for the US crypto regulation landscape.