Crypto Summit, CLARITY Act Odds Crash, and Market Boost from Iran Ceasefire
The chances of the CLARITY Act becoming law in 2026 have plummeted to just 10%, down from 75% in May, according to Galaxy Digital's Alex Thorn. The reversal is attributed to unresolved political disagreements and a lack of momentum in the Senate.
As the White House attempts to break the standoff, regulators are meeting with crypto industry figures this week, including executives from Coinbase, Ripple, Gemini, Robinhood, and others. President Trump will also host a major crypto summit on August 19.
The extension of the Iran-US ceasefire has given global markets a boost, pausing further naval activity in the Persian Gulf. However, Austria's Financial Market Authority has fined Bitpanda €70,000 for failing to submit required registration documents under MiCA, marking the country's first published penalty.