Galaxy Digital lowers odds of CLARITY Act passing this year to 50%

Galaxy Digital's research arm announced it has lowered its forecast for the CLARITY Act's passage this year from 60% to 50%. The firm cited delays in the process of merging the bill between the Senate Banking Committee and the House Agriculture Committee, noting that a draft has not yet been released. According to Galaxy Digital, the timeline is tight to complete procedures in both the Senate and House before the late July recess, and the bill requires 60 votes to pass the Senate. If the Senate Majority Leader does not schedule a vote by early July, discussions will likely be pushed to September amid the midterm elections, making passage more difficult. The firm also pointed to ongoing challenges, including competition with other legislation and unresolved ethics provisions within the bill. However, Galaxy Digital added that the probability of passage could increase if the bill's consolidation and a floor vote are scheduled in July.