The chances of the CLARITY Act passing this year have fallen to 60%, according to Galaxy Digital. The previous estimate was higher, but Washington now has too little time left before the August recess.
The push to pass the CLARITY Act is gaining momentum as lawmakers seek to introduce federal rules for digital asset markets. The proposal has received support from congressional leaders, industry organisations, consumer advocacy groups, national security veterans, and President Donald Trump.
Donald Trump said the CLARITY Act would help “protect the future” of the cryptocurrency market from possible restrictions by future administrations. The US president wrote this on his social media platform Truth Social — the second time in a week that he has addressed the issue of digital asset regulation.
Ethereum fell below $2,000 for the first time since March 29, triggering a wave of retail FOMO and “buy the dip” sentiment across social media.
Grayscale identified Ethereum, Solana, $BNB Chain, and Canton Network as blockchain networks that could benefit from clearer digital asset regulation in the United States, including the potential adoption of the CLARITY Act. The research highlighted tokenized assets, DeFi, stablecoins, and institutional infrastructure as key areas of potential demand.
According to available reports, the US Senate is expected to hold a vote within the next 30 days on the CLARITY Act, which includes comprehensive regulations for the cryptocurrency market. It is expected that all senators will vote in favor of the bill.
Analysts at the Santiment platform have identified what they believe could accelerate the beginning of a new bullish rally in the cryptocurrency market. Santiment stated that it has observed growing euphoria surrounding Bitcoin, attributing it to the recent approval by the US Senate Banking Committee of a compromise version of the CLARITY bill concerning stablecoin yields.
Joint trade groups representing the U.S. banking sector stated that stablecoin regulation under the CLARITY Act should be further tightened. In a joint statement, industry representatives specifically called for stricter limitations on interest-like rewards offered to stablecoin holders.
After several failed attempts to reclaim the $80,000 level, Bitcoin surged by more than $2,000 within four hours, reaching a high above $81,800 and moving toward the $82,000 level.
The long-awaited cryptocurrency market regulation bill, the CLARITY Act, has successfully passed a crucial vote in the U.S. Senate Banking Committee. The legislation was approved by a vote of 15 to 9. Two Democratic senators — Ruben Gallego and Angela Alsobrooks — voted in favor of the bill.
The Clarity Act, a bill containing comprehensive regulations for the U.S. cryptocurrency market, has once again become the center of attention ahead of tomorrow’s crucial vote in the Senate Banking Committee.
The price of $XRP is attracting growing attention ahead of the U.S. Senate Banking Committee’s May 14 review of the CLARITY Act. Several leading AI models have outlined both bullish and bearish scenarios depending on the outcome of the vote.
The full bill spans 309 pages. Committee representatives stated that the updated version is the result of lengthy negotiations between Republicans, Democrats, banking lobbyists, and cryptocurrency industry representatives.
U.S. senators are preparing to review the long-awaited regulatory framework for the cryptocurrency sector next week. The move could help end the legislative deadlock between digital asset companies and traditional banks.
The cryptocurrency industry in the United States risks remaining without regulatory rules until the end of the current year. According to CoinDesk, Senator Kirsten Gillibrand called an ethics provision a critical condition for advancing the new legislation. According to her, the Digital Asset Market Clarity Act may fail to pass without a ban preventing officials from profiting from the crypto industry.
On May 4, shares of Circle surged nearly 20% and closed at $119.53 after US Senators Thom Tillis and Angela Alsobrooks reached a bipartisan compromise on the wording of the CLARITY Act regarding stablecoin rewards.
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