CLARITY Act Misses July 4 as Odds Drop to 48%

The bill has drawn support from unexpected corners. The National Organization of Black Law Enforcement Executives became the first major law enforcement group to endorse the CLARITY Act. The Major County Sheriffs of America told the Senate in a letter that it shifted from opposition to neutral.

One obstacle is President Donald Trump's demand that Republicans pass the SAVE America Act before any other legislation moves forward. Trump said he would "not sign other bills" until that happens, effectively freezing the CLARITY Act's path.

Backers say the bill would end years of regulatory ambiguity that has slowed crypto product launches and capital formation. Abstract, a crypto project, is waiting for the law to pass before introducing Project Quantum. The CLARITY Act would also allow businesses to raise up to $50 million annually through token offerings, according to proponents.

Market sentiment remained mixed but leaned positive. About 41.6% of respondents in a recent survey expressed a bullish outlook for the legislation over the last 24 hours, even as the probability of passage fell below 50%.

The August 7 deadline will test whether Congress can break the logjam. If the bill is not reported out of committee by then, the next opportunity would not come until after the midterm elections.