Galaxy Research Cuts Odds of CLARITY Act Passing This Year to 30% From 50%
Summary
- Alex Thorn, head of research at Galaxy Digital, said he cut the odds that the CLARITY Act will pass this year to 30% from 50%.
- Thorn said the bill is falling short in the Senate, with only about 50 votes currently available versus the 60 votes needed to pass it.
- Thorn sees July 30 as the effective deadline for the bill, and if it does not pass by then, the chances of enactment this year will fall sharply.
Forecast Trend Report by Period
The CLARITY Act, a US crypto market structure bill, has only a 30% chance of passing this year, according to a new estimate.
BlockBeats reported on July 24 that Alex Thorn, head of research at Galaxy Digital, lowered his estimate for the bill’s chances of being enacted this year to 30% from 50%.
The version released this week runs 616 pages and contains 104 sections, but it still lacks enough votes to pass the Senate, Thorn said. Republicans can currently muster about 50 votes, short of the 60 needed to advance the bill.
Seven Democratic lawmakers also said in a joint statement that the current bill has shortcomings. Senator Elizabeth Warren said the legislation "should be voted down."
Thorn sees July 30 as the effective deadline for the bill. If it does not pass before the Senate recess, the chances of enactment this year will fall sharply.
