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FollowingU.S. President Donald Trump will meet with several senators at the White House on Thursday to discuss progress on the cryptocurrency market structure bill. Senator Bernie Moreno said a team of senators will brief the president on the bill and its "path to success." Senator Cynthia Loomis will also attend.
Moreno said: "We will discuss the entire content of the bill. Clearly, the president is very concerned about the bill. He is the one who really drives innovation, and I believe this will bring rich rewards." The meeting comes as lawmakers are scrambling to pass the cryptocurrency market structure bill known as the CLARITY Act before the Senate recess in August. Many lawmakers believe this is the last realistic chance to pass the bill before the midterm elections.
Senator Tom Tillis, who has been assisting with the pending provisions of the CLARITY Act, said: "I hope we can reach some kind of agreement by the end of the week. I think this is crucial if we want to get the bill passed before the August recess." Lawmakers are waiting for draft amendments to the bill. Loomis said a new draft bill will be submitted in the next few days and is expected to be discussed in the Senate next week.
Predicting the market's probability of successful passage of the CLARITY Act
Forecast market data shows traders believe the probability of the Senate voting on the bill before its August recess is 79%, up from 68.8% the day before. However, traders are less optimistic that the CLARITY Act will become law this year. A forecast market shows a 36% chance of the bill becoming law in 2026 and a 62% chance of becoming law before the end of 2027. At the same time, another trader predicting the market put a 39% chance of the bill being signed into law this year.
