Woofun AI reports that the Senate resumed sessions this week with an updated CLARITY Act anticipated soon. The sudden death of South Carolina Republican Senator Lindsey Graham on July 12, alongside Mitch McConnell’s illness-related absence, has diminished the Republican majority margin.

This shift intensifies the requirement for the bill to secure 60 votes for approval.

Alex Thorn, head of research at Galaxy Digital, lowered the likelihood of the bill passing this year to 50%, identifying the next four weeks as the final window for enactment during this congressional term. Negotiations regarding ethical provisions remain unresolved with the White House, leaving the final regulatory framework for blockchain oversight undefined.