Galaxy Digital says the Senate has a tight calendar ahead of the November elections, and the time needed to fix up and pass a key crypto bill is quickly fading.
Crypto firm Galaxy Digital has lowered the odds of the Senate passing its crypto market structure bill before the end of the year, noting that the window for lawmakers to act on the bill is closing.
“On May 22, we raised our estimate of the probability that the CLARITY Act becomes law in 2026 to 75%, up from the 55% we published the morning of May 14's Senate Banking markup, Galaxy’s head of research Alex Thorn said in a note on Friday. “We are now lowering that estimate to 60%.”
Thorn said the bill must pass the Senate before a month-long August recess starting in late July, as “after that, the window effectively closes.” He added that major legislation has historically not moved in the lead-up to the midterm elections due to lawmakers campaigning.
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