Galaxy Digital research head Alex Thorn said that even if the US CLARITY Act ultimately fails to pass, the crypto industry will still get "most of what it wants" over the next about 2.5 years through administrative guidance and rulemaking by regulatory bodies such as the SEC and CFTC. He believes that pushing for the passage of the CLARITY Act still helps innovation, investor protection, and consolidating US dominance in the crypto field, but even if the bill fails, the mid-term downside risk has been limited.