The CLARITY Act has four working days to secure 60 Senate votes before the August recess, according to Galaxy Digital. The firm lowered passage odds to 30 percent on July 24. Lawmakers continue negotiations amid lobbying from industry groups and new endorsements.
Galaxy Digital warned that Senate leaders must reach an agreement by July 30 to allow time for floor proceedings. The updated 616-page bill merges measures from the Banking and Agriculture committees and adds ethics rules barring senior officials from issuing or sponsoring cryptocurrencies while in office.
Seven Democratic senators involved in talks, including Mark Warner and Cory Booker, said the proposal still falls short on protections for government ethics, consumer safeguards and market integrity. Republicans control 53 seats but may start with only about 50 reliable votes, leaving the negotiating Democrats key to reaching the 60-vote threshold.
Fidelity joined the Digital Chamber, Crypto Council for Innovation and Blockchain Association in urging Senate leaders to advance the bill. The National Fraternal Order of Police and National Black Church Initiative also endorsed the revised legislation, citing strengthened tools against illicit finance and consumer protections.
