The House passed its version of the Digital Asset Market Clarity Act of 2025 nearly a year ago, but the bill remains stalled. Mike Belshe, CEO of BitGo, highlighted that JPMorgan has publicly supported the legislation, calling it a major shift from the bank’s crypto-skeptical stance. However, approval odds on Polymarket have dropped to 45%, down from 74% two months ago. Supporters include Rep. French Hill, CFTC Chairman Michael S. Selig, and Ethereum co-founder Joseph Lubin. Opponent Senator Elizabeth Warren warned the bill could enable sanctions evasion. President Trump has conditioned his signature on passage of the SAVE America Act, setting a new deadline of August 7.
JPMorgan, once a crypto-skeptic, has now publicly supported the Digital Asset Market Clarity Act of 2025. Mike Belshe, CEO of BitGo, noted that the world’s largest bank’s backing is a significant development. He stated, “Let that sink in. The world’s largest bank — long crypto-skeptical — is now publicly supporting crypto market structure legislation. This is a different ballgame.”
Belshe emphasized that regulatory uncertainty has long been the largest obstacle. If the bill passes, banks, asset managers, pension funds, and investment advisers may be encouraged to increase crypto participation.
Approval odds on Polymarket have dropped to 45%, a 20% decline from 74% two months ago. Despite this, the community remains largely in favor.
Rep. French Hill is arguing for a clear deadline on the CLARITY Act before Congress’s August recess. He said, “I’ve encouraged Senate leadership to put it on the floor. I think if you schedule a floor date here in the month of July, that will cause these final meetings, these final discussions to take place.”
Michael S. Selig, the 16th Chairman of the CFTC, supported the bill. He stated, “The Clarity Act, talking to this future proof notion of making sure that crypto is here to stay.” Ethereum co-founder Joseph Lubin echoed similar sentiments.
Senator Elizabeth Warren, a stern supporter of the bill, stated, “As currently drafted, the CLARITY Act is a ticket to sanctions evasion.” Meanwhile, President Trump has said he will not sign other bills until the SAVE America Act passes. The CLARITY Act now awaits a new deadline of August 7 to advance.
