#CLARITYAct
🔥 CLARITY Act at risk: Democrats and Republicans won’t make it to the election?
The US House of Representatives has cut its work schedule ahead of the November midterm elections, canceling a vote at the end of September. Now, congressmen are going on vacation on September 17 instead of October 1.
This creates a serious deadlock for one of the most important cryptocurrency bills, the CLARITY Act:
➡️ Time pressure: The Senate has scheduled the first procedural vote on the bill for September 15, just two days before the House of Representatives goes on vacation.
➡️ The need for coordination: Even if the Senate quickly passes the amended version, the House of Representatives simply won’t have time to vote on it before the election.
➡️ Market assessment: The Galaxy Digital analytical center calls the adoption of the law before the election “extremely unlikely.” Polymarket has lowered the probability of the CLARITY Act passing by the end of the year to below 20%.
❓ What’s next?
There is still a chance of a lame duck session (the period between the November elections and the inauguration of a new Congress). If the Senate approves a compromise document now, the House of Representatives can return to it after the elections.
However, the reshuffle in Congress after the November races could completely change the political alignment and the motivations of lawmakers.
🔥 CLARITY Act at risk: Democrats and Republicans won’t make it to the election?
The US House of Representatives has cut its work schedule ahead of the November midterm elections, canceling a vote at the end of September. Now, congressmen are going on vacation on September 17 instead of October 1.
This creates a serious deadlock for one of the most important cryptocurrency bills, the CLARITY Act:
➡️ Time pressure: The Senate has scheduled the first procedural vote on the bill for September 15, just two days before the House of Representatives goes on vacation.
➡️ The need for coordination: Even if the Senate quickly passes the amended version, the House of Representatives simply won’t have time to vote on it before the election.
➡️ Market assessment: The Galaxy Digital analytical center calls the adoption of the law before the election “extremely unlikely.” Polymarket has lowered the probability of the CLARITY Act passing by the end of the year to below 20%.
❓ What’s next?
There is still a chance of a lame duck session (the period between the November elections and the inauguration of a new Congress). If the Senate approves a compromise document now, the House of Representatives can return to it after the elections.
However, the reshuffle in Congress after the November races could completely change the political alignment and the motivations of lawmakers.
