Galaxy's research director estimates the CLARITY bill's timeline, predicting it could be sent to Trump for signature as early as August.

CoinFeed reported on May 16th that Alex Thorn, Head of Research at Galaxy, stated on the X platform that the U.S. Senate Banking Committee passed the CLARITY Act (digital asset market structure legislation) on Thursday by a 15-9 vote, pushing the bill towards a full Senate vote. Key developments: During the vote, Sen. Ruben Gallego (D-AZ) expressed support for moving the bill beyond the committee, but emphasized that the committee's "agreement" did not equate to a final vote of approval. Committee Chairman Sen. Tim Scott (R-SC) announced a bipartisan compromise, incorporating five amendments proposed by Sen. Cynthia Lummis (R-WY), ultimately leading to its passage.