Washington insiders: The Clarity Act could be implemented as early as July

Jinse Finance reported that Kristin Smith, President of the Solana Policy Institute, recently commented on the legislative progress of the Clarity Act. She stated that although the bill faces resistance due to the withdrawal of support by a certain exchange CEO, Brian Armstrong, and controversies within the banking sector, its complexity determines that the legislative process will be prolonged. Currently, the negotiations show two new characteristics: first, direct involvement from senior White House officials, with presidential aides such as David Sacks actively working to resolve disputes; second, traditional financial institutions are participating in the negotiations for the first time. If the Senate Banking Committee can complete its review of the bill in March or April, there is hope to advance the legislation before the July recess; otherwise, the next window will be postponed to the fall. Smith, who previously served as the head of the Blockchain Association and led the push for the passage of the Genius Act, believes that despite opposition from figures like Elizabeth Warren, the support of key Democrats such as Chuck Schumer and continued pressure from President Trump are changing the likelihood of the bill's passage. After Trump urged the banking sector to make concessions in a post on Truth Social on Wednesday, market expectations for the passage of crypto legislation within the year have risen significantly.