CLARITY Act delay could trigger another crypto sell-off: Bernstein

The CLARITY Act’s narrowing path through the U.S. Senate could trigger another crypto sell-off before the market recovers later this year, according to Bernstein analysts. Summary CLARITY Act passage odds have fallen to 28% as the Senate’s summer recess approaches. Bernstein expects a failed vote or delay to produce an immediate negative crypto market reaction. The bill remains absent from the Senate’s Aug. 3 schedule, leaving lawmakers only days to act. An Aug. 5 cloture filing could allow an initial procedural vote on Aug. 7. CLARITY Act misses the Aug. 3 Senate schedule The Digital Asset Market Clarity Act, or CLARITY Act, was not included in the U.S. Senate’s published schedule for Monday, Aug. 3, reducing the time available for lawmakers to begin floor proceedings before the summer break. The official Senate schedule lists a 5:30 p.m. cloture vote on the motion to proceed to H.R. 6500, a legislative vehicle for a continuing resolution. It does not include scheduled action on H.R. 3633, the CLARITY Act. The Senate’s cloture ledger also records the July 30 filing for H.R. 6500 but no corresponding petition for the crypto market-structure bill. The omission does not prevent Senat...