Tomorrow the US Senate votes on whether crypto gets legal clarity or waits until 2027.

The CLARITY Act finally answers the question that's been fought in court for a decade: when is a token a security vs a commodity?

Right now everything is held together by temporary guidance. The SEC/CFTC joint statement from March classifying 16 assets? Next admin can wipe it without a vote.

The bill passed the House in July 2025. Cleared Senate Banking in May. Then stalled for 4 months over ethics rules, DeFi liability, and stablecoin yield.

Tomorrow isn't even a vote on the bill itself. It's a vote on whether the Senate can debate it. Needs 60 votes. Republicans have 53 seats.

Prediction markets give it 16% odds.

If it fails, we wait until 2027 for another shot at regulatory clarity.