CLARITY Act Odds Plummet to 10% as Trump Meets Crypto Chiefs Amid Regulatory Power Struggle

Woofun AI reports that the CLARITY Act faces significant hurdles as regulatory agencies increasingly leverage existing authority to define crypto policy. It also arrives as both agencies increasingly use their existing authority to shape crypto policy while Congress struggles to finish the broader framework.

The legislative timeline is now critically constrained by Senate procedural hurdles. Galaxy said supporters may have no viable path to the 60 Senate votes needed to advance the bill. That stalemate pushed CLARITY past the Senate's August recess without a floor vote. The Senate is expected to spend only about three weeks in session before lawmakers leave Washington around Oct. 2 for midterm election campaigning.

Both initiatives address questions that CLARITY is intended to settle more permanently, including how digital assets can be issued and traded and which federal rules should apply. The CFTC will convene its inaugural Innovation Advisory Committee on Aug. 20 to discuss financial regulation. Selig ordered the exchange to continue operating under federal derivatives rules and has argued that states cannot override the national framework governing CFTC-regulated markets.

Structurally, the SEC and CFTC face limitations in replicating CLARITY's scope through exemptions and rulemaking alone. Per Woofun AI, both agencies are attempting to establish parts of the framework Congress has yet to enact. This tension will define the White House gathering, where Atkins and Selig will meet executives whose businesses sit at the center of these stalled efforts.