Svmuu News: White House adviser Patrick Witt had said in May that he hoped the CLARITY Act would be signed into law on July 4, but the bill was not signed by that date. CoinDesk reported that the biggest risk now actually comes from the House of Representatives. Recently, the U.S. House of Representatives has encountered resistance in advancing several items on its agenda, including important bills such as the budget, and the market is concerned that declining legislative efficiency may further slow the progress of the CLARITY Act.
In addition, the market views August 7—the last working day before the Senate’s summer recess—as a critical window for the bill’s progress. (CoinDesk).