Crypto Journalist Eleanor Terrett Says CLARITY Act Passing Before July 4 Is Impossible
Crypto journalist Eleanor Terrett stated on platform X that for the CLARITY Act to pass before July 4, issues with the Agriculture Committee's text must be resolved, the versions from both the House and Senate merged, and 60 votes secured.
She noted that this would require passage in both chambers within just two weeks, which is practically unachievable.
In market mechanisms, participants in the crypto industry are accelerating assessments of the risks of regulatory delays, with funds shifting from U.S. domestic projects to jurisdictions with more certainty or platforms that are fully compliant. Early lobbying successes benefit while projects relying on rapid legislative expectations are under pressure.
Source: Public Information
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Eleanor Terrett, a journalist who has long tracked crypto legislation, has previously reported on the progress of crypto-related bills in the U.S. Congress and has continuously monitored regulatory dynamics and bipartisan negotiations following the FTX incident.
In terms of capital pathways, crypto lobbying organizations mobilize resources through industry associations to promote bills like the CLARITY Act, motivated by the desire to provide a clear framework for DeFi, stablecoins, and spot ETFs to attract institutional funds. However, the discrepancies between the House and Senate versions and time constraints force capital to shift towards state-level regulation or overseas alternatives.
Similar cases include the difficult compromises on crypto provisions in the 2021-2022 Infrastructure Bill and the phased implementation of MiCA in the EU. The U.S. is currently in a lengthy negotiation phase transitioning from fragmented federal crypto regulation to a unified framework.
Essentially, this is about regulatory change: the conflicts between the two parties in Congress and the jurisdictional conflicts within committees lead to repeated delays in the legislative process. The pressure of time forces capital to reconstruct from policy expectations to actual compliance pathways, accelerating the industry's adjustment towards more flexible structures.
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Legislation is not linear but a persistent tug-of-war of bipartisan compromise, with time always favoring the procrastinators. The later regulatory certainty is established, the wider the window for capital flight. The speed of bill passage determines the fate of the industry; when expectations fall short, leverage instantly shifts towards certainty.