Galaxy Digital Cuts CLARITY Act Passage Odds to 10% This Year

Galaxy Digital has lowered its estimate of the CLARITY Act passing this year to 10% from 75% in May. According to Odaily, the bill would assign crypto asset oversight to two U.S. federal regulators.U.S. senators are scheduled to return to Washington on September 14, leaving about three weeks of working time. Senate records show that a motion to end debate on the bill will be eligible for a vote at 2:15 p.m. on September 15 and would need support from at least 60 senators.Republicans hold 53 seats, meaning the bill would still need support from at least seven senators from other parties even if all Republicans back it. Galaxy Digital said unresolved ethics rules, reduced Republican support due to banking lobbying, and the shorter legislative window in September are the main obstacles to passage this year.