Digital Asset Market Clarity Act Passage Delayed Amid Banking Lobby Resistance

The Digital Asset Market Clarity Act (CLARITY Act) was passed by the House of Representatives with bipartisan support in July 2025, generating optimism for its passage in the Senate. However, progress has stalled due to banking lobby resistance and concerns over stablecoin yield provisions.

The bill requires 60 votes to overcome a filibuster in the Senate, which is a challenging threshold. Key industry groups withdrew their backing after the House vote, citing jurisdictional issues between the SEC and CFTC.

Scaramucci's prediction may be an attempt to adjust expectations within the institutional investor community, which has been anticipating regulatory clarity as a near-term catalyst for the crypto market.