White House · US Senate · CLARITY Act · Democrats · The Block
Crypto market structure bill still runs into significant hurdles despite Senate committee win: analysts
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The digital assets industry largely applauded the Senate Banking Committee advancing the Clarity Act, but the job of passing the legislation into law is still far from done, argue some analysts.
Key facts
- The Senate Banking Committee voted on Thursday, 15-9, to advance its version of the crypto market structure bill, with support from both Democratic Sens
- Earlier this week, before the Senate Banking Committee vote, GSR Chief Legal and Strategy Officer Joshua Riezman said the odds of the Clarity Act reaching the president’s desk this session
- It is why they slightly raise the probability the bill passes to 40% from one-in-three
- Timing could also be a factor in whether the bill passes before the 2026 midterm elections
Summary
"We are slightly more optimistic that this package could become law after the markup, as it is clear there are Democrats who are looking for a way to back the bill," TD Cowen analyst Jaret Seiberg said Friday in a research note. The Senate Banking Committee voted on Thursday, 15-9, to advance its version of the crypto market structure bill, with support from both Democratic Sens. The Clarity Act, which aims to regulate the crypto industry at the federal level, has been held up for months as the White House, lawmakers, crypto advocates, and the powerful banking lobby debated the proposed legislation. Benchmark analyst Mark Palmer noted that, despite some recent movement, the legislation will likely need more support from Democrats to become law.