The CLARITY Act remains stalled in Congress due to an unfavorable calendar and upcoming midterm elections. Grayscale published an analysis outlining alternatives if the bill is not passed this year, notably strengthening the regulatory role of the CFTC and SEC. The procedural vote is scheduled for September 15 but requires 60 Senate votes, a difficult threshold to reach. Institutional involvement continues to grow through ETFs, stablecoins, and tokenized RWAs. Galaxy Research cut the probability of passage this year from 50% to 30%.
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