HTX analyst says passing the Clarity Act has become more difficult... midterm elections are not a key variable

The Democratic sweep of both chambers in the U.S. midterms has weakened the odds for advancing the CLARITY Act, the crypto market-structure bill, according to HTX senior analyst Andy, even as the already-enacted stablecoin law remains unaffected. Andy argued that a divided Congress under the Trump administration should not be viewed too pessimistically, but that the key shift is fading expectations for new regulatory legislation. The distinction matters because completed laws and pending bills respond differently to election outcomes, leaving market-structure rules unfinished. With legislative momentum now in question, the next focal point is whether the CLARITY Act can still draw bipartisan support in a split Congress.