Clarity Act Stalls as Solana Policy Institute Sees Only 10% Chance of Pre-Midterm Passage

The Solana Policy Institute has given the Clarity Act a slim chance of passing before the midterm elections, citing legislative hurdles and time constraints. According to CEO Miller Whitehouse-Levine, there is only a 10% chance that the bill will pass Congress by November.

The Clarity Act aims to provide a comprehensive regulatory framework for digital assets in the US, but it has stalled in the Senate due to its recess and a crowded legislative calendar. With tens of thousands of staff hours already invested in previous attempts to advance market structure bills, another failure would come at a significant opportunity cost.

Whitehouse-Levine emphasized that regulators must move quickly on their own to provide clarity for the industry. Without a legislative fix, regulators may need to use rulemaking and guidance to address the lack of clear statutory guidance.