Crypto▼ Bearish
CLARITY Act Odds Slide to 35% After Heated New York Hearing
A New York hearing exposed deep divisions between state regulators and crypto firms, pushing PredictIt odds for the CLARITY Act to 35% from near 50%.
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The CLARITY Act's passage odds fell to 35% on PredictIt after a New York hearing Wednesday, two people briefed on the session said. Witnesses clashed over state preemption and stablecoin oversight, exposing a divide between state regulators and industry advocates that left committee members uncertain about the bill's path.
New York's Department of Financial Services told the panel the act would weaken its enforcement powers. Crypto firms argued for single federal oversight to reduce compliance costs. The exchange lasted more than three hours and included pointed questions from both parties. A committee aide said the next markup is scheduled for July, adding that the hearing's tone indicated further revisions are likely.