Kristin Smith and other advocates say a path exists for the Clarity Act before the August recess. Alex Thorn puts odds at 30%. Banking groups oppose.
Alpha Score of 64 reflects moderate overall profile with strong momentum, moderate value, moderate quality, moderate sentiment.
The push to pass the Digital Asset Market Clarity Act before the August recess is not over, according to Kristin Smith, one of the crypto industry's leading lobbyists. She rejected concerns that the bill was losing support after Senate Majority Leader John Thune told reporters that lawmakers likely would not be able to pass the Clarity Act before the Senate leaves Washington for its August break.
"I don't think we'll be able to get them done. I would like to at least get Clarity started. We'll see where the votes are," Thune said, referring to the Clarity Act and other legislative priorities.
Sen. John Kennedy (R-La.) had previously warned that without a positive vote before the break, "the odds shift against us."
After Thune's remarks, a prominent crypto advocate argued that the situation had been misinterpreted. "There is a clear path to pass the Clarity Act before the recess on August 7, and we must seize it," the advocate said. "To the crypto community: This is our moment. We can get this done."
Alex Thorn, head of research at Galaxy Digital, lowered the odds of passage to 30%. He called for a "last-ditch" effort.
The National Fraternal Order of Police threw its support behind the latest version, saying revised language in the Blockchain Regulatory Certainty Act addresses its previous concerns.
Goldman Sachs CEO David Solomon also endorsed the bill. He said he is "very supportive" of moving the Clarity Act forward, arguing that clearer rules would provide the regulatory certainty needed for financial institutions to participate in blockchain markets.
Traditional banking groups fiercely oppose the bill. Their lobbying power could block passage even with industry support. The Senate is scheduled to leave for recess on Aug. 7, leaving a narrow window for a vote.
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