Solana Policy Institute sees 10% odds of Clarity Act passing before midterms

Solana Policy Institute CEO Miller Whitehouse-Levine said the odds of the Clarity Act, a bill aimed at defining the U.S. cryptocurrency regulatory framework, passing Congress before the November midterm elections are only around 10%, according to The Block. In an interview with The Block, Whitehouse-Levine said the bill is currently stalled as the U.S. Senate is in recess. Whitehouse-Levine added there is less time left before the current congressional session ends, making passage increasingly difficult. Whitehouse-Levine said this is likely the sixth attempt to advance a market structure bill in the United States, and if the measure fails again, the tens of thousands of staff hours invested by lawmakers and congressional aides would represent a major opportunity cost. Whitehouse-Levine said it is now more important for regulators to move quickly on their own. Solana Policy Institute is a nonprofit organization independent of the Solana Foundation that responds to U.S. policy and regulatory issues tied to the Solana ecosystem.