CLARITY Act's fate rests on bipartisan support in Senate Banking Committee, analyst says

The passage of the Digital Asset Market Clarity Act of 2025, known as the CLARITY market structure bill, hinges on bipartisan support in the United States Senate Banking Committee, Alex Thorn, head of research at Galaxy, said. Thorn added the bill is unlikely to come up for a second vote in 2026 if it fails to pass in a vote next week.

Thorn said the Senate typically needs at least 60 votes to advance legislation, and that Republicans would need seven to 10 Democrats to vote yes on the CLARITY Act. He said if Republicans can secure four Democratic votes on the Senate Banking Committee, it is likely that all 17 Democratic senators who backed the GENIUS Act will vote with Republicans to advance the market structure bill.

"Advocates for the market structure bill want to see a similar level of bipartisanship next week. Absent a strong bipartisan showing in the Senate Banking Committee vote, the bill’s odds of passing in 2026 drop dramatically," Thorn said. Thorn also said a congressional framework would foster crypto adoption, particularly among institutional investors wary of unclear rules and potential regulatory rollback.

Thorn said the industry would face a "relatively minimal" impact if the bill fails, noting that industry players have already secured several key policy objectives through a pro-crypto regulatory pivot.

Key Topics

Crypto, Clarity Act, Senate Banking Committee, Alex Thorn, Galaxy, Genius Act