Svmuu News: U.S. Senate Majority Leader John Thune stated that the CLARITY Act may not be finalized before the summer recess, but he hopes to at least begin the full Senate deliberation process before the recess.
Previously, the industry had viewed August 7 as a critical window for the bill’s passage this year; if it is delayed until the fall, the likelihood of the legislation being finalized by 2026 may decrease. Patrick Witt, the White House advisor on cryptocurrency affairs, noted that the Senate may still move forward with the relevant procedures in the first week of August, but the likelihood of the CLARITY Act passing its final vote in July is low.