Wall Street Is Now Backing the Clarity Act. Here's the Most Likely Scenario for What Happens Next With Crypto.
Even if there's no clarity on the Clarity Act, Coinbase and Circle could still power higher over the next 12 months.
Overview
Lately, it's been all-hands-on-deck as the crypto industry attempts to push through a comprehensive piece of new legislation called the Digital Asset Market Clarity Act (Clarity Act). The newest recruit to the crypto cause is Wall Street bank Goldman Sachs (NYSE: GS), which recently voiced its support for the legislation.
The only problem is that even the support of Wall Street doesn't guarantee passage of the new legislation. That makes things dicey for investors, as they attempt to read the tea leaves and determine what exactly will happen next. With that in mind, here's a look at the most likely scenario going forward and what it might mean for crypto stocks.
Details
After analyzing data from online prediction markets such as Kalshi or Polymarket, it's possible to sketch out a probability distribution of when the Senate will actually vote on the Clarity Act, how many members of Congress will support the legislation, and when the legislation might actually get signed into law by the White House.
Source
Originally published at www.fool.com.