Positive Signs
The bill has undergone 126 amendments to meet Democratic demands.
The latest version released by the group of Republican Senators reportedly incorporates most of the requirements raised during negotiations, particularly regarding ethics, stablecoins, and developer protections. Trump has agreed to restrictions concerning crypto-related conflicts of interest.
This had been one of the major sticking points. The new version grants state Attorneys General a greater role in enforcing certain conflict-of-interest regulations. Trump’s agreement to most of these restrictions removes a key obstacle for some Democratic Senators. The White House is publicly projecting considerable confidence.
Patrick Witt, the White House’s top crypto advisor, stated he felt "very good" ahead of the vote and described the current version as the "best and final offer." Bernstein suggests that actual progress may exceed market expectations.
Bernstein analysts observe that the new concessions regarding ethics and community banking indicate that the CLARITY Act may be progressing better than it was last week. They also note that current market sentiment is quite pessimistic, meaning a positive surprise has not been fully priced in. The likelihood of the CLARITY Act passing this year has increased following the release of the new draft.
One source noted that the probability on Polymarket rose from approximately 22% to 32% after the new version was announced. However, this remains a low probability and is not a definitive signal.
But There Is a Crucial Point
Today’s vote is not the final vote to pass the CLARITY Act.
$BTC
The bill has undergone 126 amendments to meet Democratic demands.
The latest version released by the group of Republican Senators reportedly incorporates most of the requirements raised during negotiations, particularly regarding ethics, stablecoins, and developer protections. Trump has agreed to restrictions concerning crypto-related conflicts of interest.
This had been one of the major sticking points. The new version grants state Attorneys General a greater role in enforcing certain conflict-of-interest regulations. Trump’s agreement to most of these restrictions removes a key obstacle for some Democratic Senators. The White House is publicly projecting considerable confidence.
Patrick Witt, the White House’s top crypto advisor, stated he felt "very good" ahead of the vote and described the current version as the "best and final offer." Bernstein suggests that actual progress may exceed market expectations.
Bernstein analysts observe that the new concessions regarding ethics and community banking indicate that the CLARITY Act may be progressing better than it was last week. They also note that current market sentiment is quite pessimistic, meaning a positive surprise has not been fully priced in. The likelihood of the CLARITY Act passing this year has increased following the release of the new draft.
One source noted that the probability on Polymarket rose from approximately 22% to 32% after the new version was announced. However, this remains a low probability and is not a definitive signal.
But There Is a Crucial Point
Today’s vote is not the final vote to pass the CLARITY Act.
$BTC
