Galaxy lowered the estimate of the probability of passage of the CLARITY Act to 10%. As unresolved questions, the company cited ethics standards, the profitability of stablecoins, and protections for developers.

Galaxy also cited a narrow window for the Senate's work after lawmakers return in September. The source does not specify which provisions are controversial or who supports this assessment.

For the crypto market this primarily means maintaining uncertainty around timelines and content of possible regulation. However, the available data are presented as a brief Cointelegraph recap, so Galaxy's assessment is not corroborated by independent sources in the provided package.