Solana Institute President Says CLARITY Act Could Soon Reach Trump's Desk

Despite falling optimism for the CLARITY Act to become law in 2026, Solana Institute President Kristin Smith has offered a glimmer of hope for crypto enthusiasts. Smith noted that the CLARITY Act will scale through the US Senate and reach Donald Trump for presidential assent in the near future.

A raft of reasons for the CLARITY Act becoming law

Kristen Smith has expressed confidence that the crypto market structure bill will become law within weeks, downplaying concerns about an extended legislative impasse. In an X post, the Solana Institute President unveiled a raft of reasons for her belief in the incoming bill’s passage.“Legislation is never guaranteed, but I strongly believe there is a path to get the Clarity Act to the President’s desk,” wrote Smith on X.

Right off the bat, Smith anchored her conviction on steady conversations between sector players, the White House, and senators across party lines. Smith noted that the CLARITY Act has strong advocates in the Senate across the aisle, including Cynthia Lummis, Bernie Moreno, Kirsten Gillibrand, and Ruben Gallego.Smith, previously the CEO of Blockchain Association, added that there are no major outstanding issues before Congress, freeing up space for proper deliberation. Previously, a clogged Senate calendar saw Galaxy Digital and prediction marketplaces reduce the odds of the CLARITY Act passing.

Source: Kalshi

“We have 4 critical weeks from July 13 to August 7 to get this through the Senate,” said Kristen. “That is enough time to put Clarity on the agenda and move it forward.”Meanwhile, Smith is also banking on strong industry advocacy to drive the bill closer to becoming law. Dubbed a “pro-crypto army,” over 200 digital asset service providers and blockchain advocacy groups have teamed up to lobby Congress to pass the crypto market structure bill into law.

Still a steep mountain to climb

While the Solana Institute President has stoked a new wave of enthusiasm, the bill still faces a raft of hurdles. For starters, traditional finance heavyweights have heightened lobbying against the CLARITY Act, arguing that the bill is “a threat to the structure of the banking system.”

Early in the week, the American Banker published a scathing criticism of the bill, noting that crypto companies intending to replicate the banking business model with stablecoins are not subject to the same restrictions as banks. Previously, Ripple CEO Jamie Dimon fired back at JPMorgan CEO Jamie Dimon over his excessive criticism of the CLARITY Act.

The bill has also drawn criticism from US law enforcement agencies, with the latest pushback coming from the Catholic Church. Amid the wave of criticism, pundits opine that the final version of the bill may be watered down to accommodate the concerns of Wall Street.

However, Smith added that the pushback against the bill pales in comparison to previous battles faced by the cryptocurrency industry. She highlighted the Gensler-era crackdowns, debankings, and self-hosted wallet midnight rulemaking as part of stiff battles with regulators and traditional finance.