CLARITY Act Nears Senate Approval as Crypto Market Structure Bill Advances

The CLARITY Act, a pivotal piece of cryptocurrency legislation, could reach President Donald Trump's desk by early August following a bipartisan Senate Banking Committee vote. Galaxy Digital's research arm now estimates a 75% probability of enactment by 2026 after the committee advanced the bill 15-9 on May 14.

The legislation faces a tight timeline as it moves to reconcile differences between Senate Banking and Agriculture Committee versions before floor consideration. Passage would require subsequent House approval before the August recess—a challenging window during an election year.

Market participants note the bill's progress reflects growing institutional acceptance of digital assets, though political hurdles remain. The vote marked a rare bipartisan breakthrough for crypto regulation after previous partisan stalemates.