Gate News, March 7 — Kristin Smith, President of the Solana Policy Institute, recently commented on the legislative progress of the Clarity Act. She stated that although the bill faces resistance due to support withdrawal from a certain CEX CEO and banking industry disputes, its complexity ensures a long legislative process. Currently, two new features characterize the negotiations: first, high-level White House involvement, with presidential aides like David Sacks pushing for dispute resolution; second, traditional financial institutions are participating in negotiations for the first time. If the Senate Banking Committee can complete the bill review by March or April, there is a chance to advance the legislation before the July recess; otherwise, the next window will be delayed until fall. Smith, a former head of the Blockchain Association who led the push for the Genius Act, believes that despite opposition from Elizabeth Warren and others, support from key Democrats like Chuck Schumer and ongoing pressure from President Trump are increasing the likelihood of the bill’s passage. After Trump urged banks to make concessions in a post on Truth Social on Wednesday, market expectations for passing crypto legislation within the year have significantly risen.
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