The US Senate has shelved the Digital Asset Market Clarity Act until after the August recess, significantly threatening its chances of passage. Galaxy Research has halved the bill’s odds of becoming law, now estimating them at 30%, down from 50% a month ago. The House of Representatives had previously passed the bill (H.R. 3633) on July 17, 2025, with a surprisingly bipartisan vote of 294 to 134. Major financial firms including BlackRock, Fidelity, and Goldman Sachs support the legislation, but partisan tensions over ethics provisions, illicit finance safeguards, and consumer protections are blocking Senate advancement. If the delay extends to 2026, midterm election dynamics could force the legislative process to start from scratch.
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