Clarity Act Expected to Miss Its Window Before Congress' Summer Break, Leadership Says
Polymarket odds for the crypto bill fell to 37% as Senate disagreements over enforcement and ethics language weakened the policy rally.
- Coinbase shares fell 4% to about $169 on July 22 as the CLARITY Act's passage odds dropped to 37% from 52% on July 21, according to Polymarket data.
- Disagreements emerged over how to enforce proposed ethics restrictions, stalling legislative momentum and disrupting the recent policy-driven rally that had sent COIN stock 9% higher on July 21.
- Coinbase Chief Legal Officer Paul Grewal disclosed a $150,000 settlement with the U.S. Securities and Exchange Commission on July 22, ending a Freedom of Information Act lawsuit while the exchange opened SUI staking for eligible customers.
- White House crypto adviser Patrick Witt expressed optimism about potential Senate action during the first week of August, though the bill faces a challenging 60-vote threshold and Republican Senator Thom Tillis indicated the text remains unfinished.
- Attention now shifts to Coinbase's second-quarter results scheduled for July 30, where analysts expect earnings of $0.19 per share as Oppenheimer and Raymond James maintain price targets of $209 and $158.
14 Articles
14 Articles
Clarity Act Likely to Miss Its Pre-Recess Window, Senate Leader Thune Says
The crypto industry’s most important piece of legislation will likely miss its best shot at passing this year. Senate Majority Leader John Thune said Thursday he does not expect the Senate to pass the Digital Asset Market Clarity Act before the chamber breaks for its long August recess. Industry and congressional negotiators had focused on August 7 as the date the market structure bill needed to clear if it was to have a reasonable chance at pas…
Senate Leader Says CLARITY Act Unlikely to Pass Before August Recess
John Thune , Majority Leader of the United States Senate, confirmed that the Clarity Act is unlikely to pass before the August legislative recess . Despite growing support from the industry and law enforcement organizations, a lack of time and bipartisan agreement has stalled the progress of this...
[Digital Daily Reporter Cho Yoon-jung] It has become virtually impossible to pass the ‘Clarity Act,’ a key bill set to establish a regulatory framework for the U.S. virtual asset market, in July. However, as Senate leadership has left open the possibility of beginning plenary discussions before the summer recess, there are observations that the possibility of passage in early August remains. According to foreign media outlets such as CoinDesk o…
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