Crypto Lobbyists Push for CLARITY Act Approval Ahead of Senate Recess
The digital asset industry is pushing for approval of the CLARITY Act before the US Senate's summer recess on August 7. Despite reservations from congressional leadership, Kristin Smith, a leading crypto lobbyist, believes there is still a path forward.
According to Alex Thorn, head of research at Galaxy Digital, the bill's approval odds are currently at 30%. However, industry representatives such as David Solomon, CEO of Goldman Sachs, have publicly confirmed their support for the regulatory text.
The National Fraternal Order of Police has endorsed the recent version of the bill after modifications were made to clauses tied to the Blockchain Regulatory Certainty Act. Traditional investment banking, represented by Goldman Sachs, is also supporting the legislation.