Crypto's Clarity Act Faces Tight Deadline in Senate

Despite the looming deadline, industry lobbyists believe the bill can still pass if it reaches a final vote by July. The Senate Banking Committee hearing is a crucial step, but the bill must also be merged with the version passed by the Senate Agriculture Committee. The legislation aims to provide clarity on market structure and has been delayed due to debates over stablecoin yield programs. While the odds of success are currently 50-50, the crypto industry is playing the long game, with millions of dollars invested in campaign finance to build support in Congress.