Galaxy research director: If the encryption bill does not pass the Senate committee review, the probability of it being passed in 2026 will significantly decrease

Alex Thorn, head of research at Galaxy, stated that if the U.S. cryptocurrency regulatory bill CLARITY Act fails to pass the Senate committee review by the end of April, its chances of passing in 2026 will significantly decrease, as the bill needs to enter the Senate floor voting agenda in early May.

The current controversy surrounding stablecoin yields is considered a major obstacle, but Thorn pointed out that even if a compromise is reached on this issue, there may still be other controversies related to DeFi, developer protection, SEC authority, and ethics.