Expert Predicts 70% Chances for CLARITY Act Passage Amid Debate Over Ethics Provisions

The Clarity Act, a bipartisan cryptocurrency legislation, has garnered significant attention in the crypto community. Galaxy Digital's Head of Research, Alex Thorn, believes the bill has a 70% chance of passing Congress.

With about nine weeks left before the August recess, Congress must work diligently to advance the bill and get it signed into law by President Trump. After August, legislative progress is expected to stall due to the upcoming midterm elections in November.

The Senate Banking Committee recently advanced the bill on a bipartisan basis after two Democratic senators voted yes. However, Thorn cautions that the bill's success hinges on resolving ethics provisions that would restrict elected officials' digital asset ownership and transactions.