Bitcoin dipped under $65,000 as we speak, down roughly 0.5% on a sluggish weekend. The digital asset briefly traded as little as $64,974 earlier than recovering barely. Over the past few days, BTC has struggled to hold the $65,000 level, with multiple attempts to break above it failing.
The muted price action comes as traders digest a big piece of regulatory news: the CLARITY Act, probably the most consequential crypto market construction invoice to attain the Senate flooring, is now unlikely to pass this 12 months.
Zach Pandl, Grayscale’s Head of Analysis, printed an evaluation on August 8 stating that whereas an settlement on the CLARITY Act is technically nonetheless attainable, the realities of the Senate calendar and election-year politics imply the possibilities of passage this 12 months now seem low.
The Senate Banking Committee advanced the bill on May 14 by a vote of 15-9, and the House passed it in July 2025 by a 294-134 margin. However, a merged draft released on July 22 drew objections from seven Democratic negotiators over ethics, consumer protection, illicit finance, and market integrity concerns. With Republicans holding 53 seats, the bill needs at least 7 Democratic votes to reach the 60-vote threshold required to overcome a filibuster. Those votes have not materialized.
Grayscale’s head of research, Zach Pandl, says the Crypto Clarity Act is unlikely to pass this year. 👀 pic.twitter.com/3aS8zAfOQf
— Crypto Crib (@Crypto_Crib_) August 9, 2026
Restricted Instant Affect, however Lengthy-Time period Issues
Pandl emphasised that the invoice’s failure wouldn’t have an instantaneous affect on the functioning of main blockchains, demand for Bitcoin as a retailer of worth, or the expansion of stablecoin funds. The industry has operated for almost 17 years without comprehensive federal legislation.
However, the lack of a clear rulebook could hold back new investment in the United States. The CLARITY Act would have created a new path for capital formation using blockchain technology, supported the growth of tokenized securities markets, and established a comprehensive oversight framework for digital asset intermediaries.
Pandl noted that the SEC and other regulators are expected to fill regulatory gaps through rulemaking in the coming months, particularly around tokenized securities. The SEC’s interpretative guidance on the application of federal securities laws to crypto assets was already a significant step forward. But without a comprehensive market structure framework, a greater share of new investment and entrepreneurial activity may shift overseas.
What’s Next for the CLARITY Act
Senate Majority Leader John Thune has opened the multi-stage process required to bring the bill to a vote, giving it a potential path forward in September. The bill remains on the Senate calendar, and the legislative process could resume after the August recess.
However with the Senate now in recess and the window for motion this 12 months narrowing, the likelihood of passage has dropped considerably.
Polymarket merchants at present place the percentages of the CLARITY Act turning into regulation in 2026 at roughly 21% , down 19 share factors over the previous month. For now, crypto strikes ahead with out it.
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