Woofun AI reports that the U.S. Senate has recessed until July 13th, during which bipartisan staff, the White House, and industry representatives will continue coordinating on remaining disagreements regarding the Clarity Act. This process involves reconciling versions from the Senate Banking Committee and the Agriculture Committee, alongside discussions on ethics provisions and anti-money laundering issues.

If an agreement is reached smoothly, the bill could be submitted to the full Senate for a vote as early as late July to early August. Market consensus holds that failure to pass the bill before the August congressional recess would significantly decrease the likelihood of its enactment this year.