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Crypto

Clarity Act faces last-minute hurdles as Galaxy Digital CEO travels to Washington

Prospects for the CLARITY Act, seen as key legislation for the U.S. crypto market, are tied to three issues: the scope of regulation for Web3 developers, resistance from law enforcement agencies and a tight congressional schedule. Galaxy Digital CEO Mike Novogratz went to Washington for urgent meetings, aiming to pass the bill within 4 weeks before the summer recess. Polymarket odds for passage in 2026 fell to 48 percent from 62 percent.

Crypto

Crypto industry urges U.S. Senate to vote on CLARITY Act as Coinbase, Ripple join

More than 200 cryptocurrency companies and industry groups, including Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle and Binance.US, urged U.S. Senate leaders to hold a floor vote on the CLARITY Act. The bill passed the Senate Banking Committee on May 14, 15-9, but still needs 60 votes on the Senate floor and further steps. Analysts are divided on passage this year, with debate including stablecoin interest-like rewards.

Crypto

White House pushes for fast action, JPMorgan sees hurdles ahead on CLARITY Act

JPMorgan has assessed that the chances have declined that the CLARITY Act, a U.S. cryptocurrency market structure bill, will pass this year. Although it cleared a Senate committee, it still faces a Senate floor vote, coordination with the House and a presidential signature, leaving its fate before the midterm elections uncertain. JPMorgan cited a tight legislative calendar and disputes over rules governing yield on stablecoin holdings.