Galaxy Research Cuts Odds of CLARITY Act Passing This Year to 30% From 50%

The CLARITY Act, a U.S. cryptocurrency market-structure bill, has only a 30% chance of passing this year, Galaxy Digital Research said.

BlockBeats reported on July 24 that Alex Thorn, head of research at Galaxy Digital, lowered his estimate for the bill’s chances of becoming law this year to 30% from 50%.

The version released this week spans 616 pages and includes 104 sections, but it lacks the votes needed to pass the Senate. Republicans can currently count on about 50 votes, short of the 60 required to move the bill forward.

Seven Democratic lawmakers also said in a joint statement that the current bill has shortcomings. Senator Elizabeth Warren said the measure “should be voted down.”

Thorn sees July 30 as the effective deadline for the bill. If the Senate does not pass it before recess, the chances of enactment this year would drop sharply.