Jiang Zhuo'er: "The CLARITY Act" is Likely to Pass with Only 10% to 20% Probability, Significant Ethical Terms Differences Remain Between the Two Parties

BlockBeats News, July 24th, Jiang Zhuo'er, founder of B.TOP Mining Pool, stated in a post that the probability of the

being passed is very low, around 10% to 20%, as there are still major disagreements, especially regarding the ethical provisions. The proposal accepted by Trump only limits the president and their spouse from participating in cryptocurrency issuance, while the Democratic Party insists on including other family members and family entities in the restriction.

Both sides have also not reached an agreement on enforcement authority. Trump supports the U.S. Department of Justice being responsible for prosecuting misconduct, but the Democratic Party believes the Attorney General, appointed by the president, should also grant state attorneys general prosecutorial powers. Jiang Zhuo'er believes that if Trump fully accepts the restrictions proposed by the Democratic Party, he will lack the motivation to sign the bill into law.

In addition to ethical provisions, there are also many disagreements on other parts of the bill. The U.S. Congress is set to adjourn on August 7th, with only about 10 working days left. The procedural time is very tight, making it difficult to reconcile significant differences before the adjournment.

He further stated that the reconvening period of Congress from September 14th to October 5th is close to the midterm elections, and they also need to address budget and appropriations agendas, potentially facing a government shutdown risk. The Democratic Party also lacks the political motivation to push the bill through before the elections.