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

The CLARITY Act faces low odds of passage in the Senate before the summer recess. If the bill fails to advance, analysts predict a negative impact on the crypto market. The bill is absent from the Senate schedule for August 3, leaving little time for action before the break. Bernstein analysts warn of a potential market decline if the bill is not passed. The Senate’s cloture process could impact the bill’s progress, with a filing on August 5 being the final practical window for action. The absence of floor action before the recess could delay the CLARITY Act’s advancement until September. Regulatory agencies may step in with guidance if Congress fails to act on crypto market regulation.