#CLARITYActEntersFinalCriticalStage

The CLARITY Act is running out of time. The important bill about crypto in the US has reached a point where the calendar is more important than what the bill actually says. Senate Majority Leader Thune wants to start talking about the bill before August 7 when everyone goes on recess.. He does not think they will finish it before they leave.

The big question now is whether they can start or finish the bill.

The House already passed the CLARITY Act year and both parties agreed on it. Former House Financial Services Committee Chairman McHenry said the remaining work is a matter of time. Three big crypto groups recently sent a letter to the Senate asking them to act. Everyone agrees that the crypto industry needs rules. The problem is when and how to do it.

There are two obstacles in the way.

* First Democrats want to add rules to prevent the president and other officials from making money from crypto.

* Second the bill needs 60 votes to pass. Republicans only have 52 seats.

These two things make it hard to pass the bill. They need to find a way to compromise on the rules so that more senators will agree or the bill will have to wait.

The market thinks there is a 37% chance that the CLARITY Act will pass this year. This number shows that people are taking the bill seriously. They are also aware of the problems and the short time left. If the Senate does not do anything before the recess they will have to wait until September or later.

For the two weeks I think it is all about whether the leaders can find a way to start working on the bill. The rules about ethics will decide if they can get the 60 votes they need. Everything else is not as important until they figure these things out.

The CLARITY Act is important because it will help big institutions get into crypto. If it gets delayed it will not kill the bill. It will mean that people have to keep working with the current rules, which are not very clear. This is a problem even if we do not see it in the daily prices.

This is just my opinion, about what's happening with the bill and what the market thinks. I am not saying what the final result will be.

‍#CLARITYAct #CryptoRegulation @Gate_Square