CLARITY Act Passage by July 4 Seen as Unrealistic
Forecast Trend Report by Period
Doubts are mounting over whether the CLARITY Act, a US crypto market structure bill, can be passed before Independence Day on July 4.
Eleanor Terrett, host of Crypto in America, wrote on X on June 14 that enacting the CLARITY Act by July 4 would require an agreement on ethics rules acceptable to both Republicans and Democrats.
Lawmakers would also need to resolve outstanding issues tied to the Agriculture Committee bill, merge the related legislation and secure 60 votes in the Senate, she added. Both the House and Senate would then need to approve it. With only two weeks remaining, that is realistically impossible, she wrote.
The CLARITY Act would set standards for determining whether digital assets should be classified as securities or commodities. It would also clarify the oversight authority of the US Securities and Exchange Commission and the Commodity Futures Trading Commission.
Negotiations have recently run into difficulty as Democrats demand tougher ethics provisions over potential conflicts of interest involving crypto businesses tied to President Donald Trump's family.
