CLARITY Act Passage Odds Plummet to Coin Flip as Deadline Passes

The CLARITY Act, a crucial piece of crypto legislation in the US, has seen its passage odds plummet to a coin flip as the July 4 deadline for signing is now considered 'logistically dead.'

Sensor Cynthia Lummis, one of the bill's chief architects, has warned that failure could lead to a wait until 2030, as a new Congress would have to restart the process from scratch.

The bill still needs to pass the full Senate vote, House reconciliation, and receive a presidential signature, none of which can be compressed into the remaining time. Two negotiations, an ethics fight over the President's crypto holdings and a law-enforcement fight over developer protections in Section 604, have fractured at once.

The bill has completed five of nine steps toward becoming law, but still faces significant obstacles, including a 60-vote passage threshold in the Senate. Passage would resolve classification risk for assets like XRP, which could re-rate first and hardest if the statute is passed.