CryptoSlate predicts that the Cryptocurrency Market Structure Act (CLARITY), currently being discussed in the U.S. Congress, may be delayed due to a lack of consensus and conflict over housing legislation. Senator Tim Scott, Chairman of the Senate Banking Committee, is trying to secure the support of all 13 Republican members, but it is reported that John Kennedy and others are withholding their support for the market structure bill due to delays in their own housing-related bill, "Build Now." Furthermore, in addition to the stablecoin interest clause within the bill, the developer protection clause also lacks sufficient agreement. This is due to concerns from investigative agencies that a broad expansion of immunity clauses for cryptocurrency developers could create blind spots for law enforcement. Galaxy Digital (GLXY) predicts that if the Banking Committee's vote (markup) on the market structure bill extends beyond May, the likelihood of its passage will significantly decrease, coinciding with the U.S. midterm election schedule.
