Galaxy Lowers Odds of CLARITY Act Passing to 60%

Crypto firm Galaxy Digital has cut its estimate that the CLARITY Act will become law, lowering the probability to 60% after earlier raising it to 75% on May 22 from 55% the morning of May 14’s Senate Banking markup, Galaxy’s head of research Alex Thorn said in a note on Friday.

The firm said the window for Senate action is closing. Thorn warned the bill must clear the Senate before a month-long August recess that begins in late July, calling that the effective deadline. He noted the measure still needs floor debate, an amendment process, reconciliation with the Senate Agriculture text and at least 60 votes to pass without prolonged debate, and said Majority Leader John Thune would realistically need to schedule floor time in July.

Galaxy said it trimmed its odds because there is no sign negotiations have advanced and because unresolved provisions on ethics and illicit finance remain sticking points. The firm added it would revise the estimate if Senate leaders committed to a July floor vote and final provisions were agreed.

United States

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