Journalist Eleanor Terrett believes the Clarity Act bill is almost impossible to pass before July 4th due to too many procedural steps and disagreements between the two parties.
On X, Terrett said the bill needed a solution acceptable to both Republicans and Democrats, addressing the issues in the Agriculture Committee's text, then consolidating the House and Senate versions before securing the 60 votes needed to pass both chambers within two weeks.
She described the process as "virtually impossible." There are currently no further details on how the parties might narrow their differences, or which document might be prioritized in subsequent rounds of negotiations.
The Clarity Act is one of the most closely watched bills in the digital asset sector because it could impact the legal framework for crypto in the US. However, according to Terrett's assessment, the July 4th deadline is still a long way off as political and legislative hurdles remain unresolved.
