Odds Of Clarity Act Passage Decline On Polymarket

• BTC

The odds that the Clarity Act cryptocurrency legislation will pass a crucial vote in the U.S. Senate on Sept. 15 are declining on Polymarket.

Odds that the Clarity Act will be signed into law this year have fallen to 17% from 34% heading into the Senate vote.

The decline on the prediction market comes amid media reports that Democrats in the Senate have rejected a revised draft of the legislation that seeks to regulate the market for digital assets.

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The sticking point for Democratic lawmakers remains ethics provisions in the legislation and ensuring that politicians such as U.S. President Donald Trump can’t benefit from crypto ventures

The U.S. Senate is scheduled to vote on the Clarity Act at 2:15 p.m. Eastern time on Sept. 15.

If the bill passes, it would move the industry closer to its first set of rules that regulate cryptocurrencies such as Bitcoin (CRYPTO: $BTC).

If the vote fails, it would likely shelve the legislation until after the midterm congressional elections this November.

With full Senate attendance, at least seven Democrats would need to support the Clarity Act for its to pass the vote, making approval at this stage unlikely.

Bitcoin is trading at $76,900 U.S. on Sept. 15.

Source: finance.yahoo.com