Galaxy Digital Lowers CLARITY Act Passage Odds to 60%
Galaxy Digital downgrades likelihood of crypto bill passing Senate due to tight pre-election schedule.
Galaxy Digital has reduced its estimated probability of the CLARITY Act becoming law to 60%, citing a crowded Senate calendar ahead of the November midterm elections.
The firm noted that the limited legislative days remaining make it difficult to address necessary amendments and secure final passage for the cryptocurrency-focused bill.
Timeline Concerns
With lawmakers prioritizing budget negotiations and other pressing issues, the window for advancing the CLARITY Act is narrowing. Galaxy expects further delays if the bill does not move soon.
The CLARITY Act aims to provide clearer regulatory guidelines for digital assets, a priority for many industry participants. However, political headwinds and competing legislative demands threaten its progress.