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Passage provides an ecosystem for building and connecting virtual and physical experiences through creator-built games. On its face, Passage is a social network. Under the hood, it’s an open worldbuilding platform with invisible infrastructure for connecting digital / metaverse experiences. Built with Cosmos, Passage is blockchain-agnostic and offers a suite of tools to make virtual worlds more accessible: in-browser streaming, cross-world commerce for fungible tokens and NFTs, social functionality, and 3D communication infrastructure.
Trump Pushes for CLARITY Act Passage; Crypto Leaders Participate
US President Donald Trump joined executives from crypto companies such as Coinbase and Gemini to urge the Senate to pass the CLARITY Act, which was passed by the House of Representatives in July 2025 but has stalled in the Senate.
Solana Policy Institute CEO: Clarity Act Stuck in "August Recess Purgatory," Only 10% Chance of Passage Before Midterms
Odaily News - Solana Policy Institute CEO Miller Whitehouse-Levine stated that the window for the Clarity Act to pass before the November midterm elections is closing rapidly. Speaking at the Wyoming Blockchain Symposium 2026, he estimated that the probability of the bill becoming law before the midterms is only about 10%.Whitehouse-Levine described the bill as currently being in "August recess purgatory." He noted that the Senate has been working on the legislation for over a year, but as time in the current Congress runs out, completing the legislative process is becoming increasingly difficult.He added that the procedural motion scheduled for September 15 is only the first step in a series of votes needed to move the bill forward, so he remains "hopeful, but realistic about the odds."This assessment is more pessimistic than that of prediction markets. Polymarket currently shows a 21% probability of the Clarity Act being signed into law by year-end, with trading volume exceeding $7 million on the relevant market; Kalshi puts the probability at 23%, down from 50% less than a month ago.
White House Crypto Advisor Patrick Witt: Remains "Optimistic and Bullish" on Clarity Act Passage
According to Odaily, Patrick Witt, the White House's chief crypto advisor, stated that despite ongoing controversies surrounding stablecoin yields and conflicts of interest involving Trump's crypto holdings, he remains optimistic that the Clarity Act will ultimately become law.Speaking at the SALT annual conference in Wyoming on Tuesday, Witt noted that lawmakers are currently in the August recess and are expected to return to Washington in mid-September. Senate Majority Leader John Thune has scheduled a procedural vote on the bill for September 15.Witt said the White House will sit down with Democrats to discuss points of disagreement and work to secure solid votes by September 15. He expressed that he is "genuinely optimistic and bullish" on the bill.The Clarity Act, spanning over 600 pages, aims to establish a comprehensive federal regulatory framework for the U.S. crypto industry, but has faced multiple setbacks over the past few months. Key disputes currently include how to treat stablecoin yields, as well as Democratic concerns over conflicts of interest involving Trump and his family's crypto business ventures.Overall, the September 15 vote will be a critical juncture for whether the Clarity Act can continue to advance. While the White House is attempting to send positive signals, the bill still requires bipartisan support, particularly in reaching compromises on issues such as stablecoins, ethics provisions, and regulatory division of labor.
Brian Armstrong: SEC Advances Token Classification, Urges Swift Passage of the CLARITY Act
Odaily News: Brian Armstrong posted on X platform, expressing appreciation for the progress made by Paul S. Atkins and the SEC on token classification, calling it a long-awaited step toward modernizing the financial system. He stated that he has been calling for clear cryptocurrency rules for years, and that token classification is precisely the measure the U.S. needs to maintain innovation. Brian Armstrong also said he looks forward to the SEC issuing the Innovation Exemption to promote on-chain trading of tokenized stocks. He noted that relevant progress is underway and that the CLARITY Act should be pushed forward and passed as soon as possible, moving the market on-chain before other regions take the lead.
Galaxy Research: CLARITY Act Passage Probability Drops to 10% This Year
Galaxy Research has sharply lowered the probability of the U.S. CLARITY Act passing this year from the previous 75% to 10%, believing that disagreements over ethical provisions, bank lobbying, and the limited legislative time window in September have all increased the difficulty of passing the bill.
Galaxy Lowers Probability of CLARITY Act Passage This Year from 75% to 10%
: Digital asset firm Galaxy Digital has lowered the probability of the CLARITY Act passing this year from 75% in May to 10%. The bill proposes that two U.S. federal regulatory agencies each oversee crypto asset regulation separately. U.S. Senators will return to Washington on September 14, followed by a working period of approximately three weeks. According to the Senate schedule, the motion to invoke cloture to advance the bill will be eligible for a vote at 2:15 PM on September 15. The motion requires the support of at least 60 senators. Republicans currently control 53 seats; if all Republican senators support the bill, support from at least 7 senators from other parties would still be needed. Galaxy Digital stated that unresolved ethics concerns, declining Republican support due to banking lobbying, and the shorter legislative window in September constitute the main obstacles to the bill's passage this year. (Bitcoin.com News)
White House Crypto Advisor Patrick Witt: Remains "Optimistic and Bullish" on Clarity Act Passage
According to Odaily, Patrick Witt, the White House's chief crypto advisor, stated that despite ongoing controversies surrounding stablecoin yields and conflicts of interest involving Trump's crypto holdings, he remains optimistic that the Clarity Act will ultimately become law.Speaking at the SALT annual conference in Wyoming on Tuesday, Witt noted that lawmakers are currently in the August recess and are expected to return to Washington in mid-September. Senate Majority Leader John Thune has scheduled a procedural vote on the bill for September 15.Witt said the White House will sit down with Democrats to discuss points of disagreement and work to secure solid votes by September 15. He expressed that he is "genuinely optimistic and bullish" on the bill.The Clarity Act, spanning over 600 pages, aims to establish a comprehensive federal regulatory framework for the U.S. crypto industry, but has faced multiple setbacks over the past few months. Key disputes currently include how to treat stablecoin yields, as well as Democratic concerns over conflicts of interest involving Trump and his family's crypto business ventures.Overall, the September 15 vote will be a critical juncture for whether the Clarity Act can continue to advance. While the White House is attempting to send positive signals, the bill still requires bipartisan support, particularly in reaching compromises on issues such as stablecoins, ethics provisions, and regulatory division of labor.
Brian Armstrong: SEC Advances Token Classification, Urges Swift Passage of the CLARITY Act
Odaily News: Brian Armstrong posted on X platform, expressing appreciation for the progress made by Paul S. Atkins and the SEC on token classification, calling it a long-awaited step toward modernizing the financial system. He stated that he has been calling for clear cryptocurrency rules for years, and that token classification is precisely the measure the U.S. needs to maintain innovation. Brian Armstrong also said he looks forward to the SEC issuing the Innovation Exemption to promote on-chain trading of tokenized stocks. He noted that relevant progress is underway and that the CLARITY Act should be pushed forward and passed as soon as possible, moving the market on-chain before other regions take the lead.
Galaxy Lowers Probability of CLARITY Act Passage This Year from 75% to 10%
: Digital asset firm Galaxy Digital has lowered the probability of the CLARITY Act passing this year from 75% in May to 10%. The bill proposes that two U.S. federal regulatory agencies each oversee crypto asset regulation separately. U.S. Senators will return to Washington on September 14, followed by a working period of approximately three weeks. According to the Senate schedule, the motion to invoke cloture to advance the bill will be eligible for a vote at 2:15 PM on September 15. The motion requires the support of at least 60 senators. Republicans currently control 53 seats; if all Republican senators support the bill, support from at least 7 senators from other parties would still be needed. Galaxy Digital stated that unresolved ethics concerns, declining Republican support due to banking lobbying, and the shorter legislative window in September constitute the main obstacles to the bill's passage this year. (Bitcoin.com News)
White House Crypto Advisor: If the CLARITY Act Fails to Advance by September 15, Its Passage May Become Unlikely
Odaily News: White House cryptocurrency advisor Patrick Witt stated on the X platform that Congress has spent years pushing for crypto market structure legislation, and the Senate has been continuously negotiating the CLARITY Act since last summer. However, over the past week, Chuck Schumer and the so-called "pro-crypto Democrats" have blocked a procedural vote on the bill before recess, demanding further delays.Patrick Witt warned that if the bill fails to make progress by September 15, the likelihood of its future passage will decrease significantly.
Coinbase Policy Chief Rebuts WSJ Criticism of CLARITY Act, Urges Senate Passage
Odaily News - Coinbase Chief Policy Officer Faryar Shirzad stated on the X platform that the Wall Street Journal's (WSJ) criticism of the CLARITY Act is disappointing, arguing that it abandons principles of free markets and competition in favor of maintaining regulatory barriers, while echoing the views of banking associations.Shirzad stated that the CLARITY Act imposes multiple restrictions on stablecoin rewards and ties them to customer activity, adding that there is currently no evidence to support the "deposit flight" claim. He noted that three independent studies, including one from the White House Council of Economic Advisers (CEA), have found no evidence that stablecoin growth leads to bank deposit outflows.Furthermore, Shirzad emphasized that the CLARITY Act does not provide exemptions for DeFi-related crimes. Instead, it distinguishes between code developers and financial intermediary operators, with fraud, sanctions violations, and money laundering remaining subject to legal prosecution.Shirzad urged the U.S. Senate to pass the CLARITY Act, stating that America needs to establish long-term, stable federal digital asset regulatory rules.
Trump Crypto Interest Controversy Weighs on CLARITY Act, Dimming Prospects for Passage This Year
the long-awaited digital asset regulatory bill, the CLARITY Act, has hit a snag in its advancement. Senate Majority Leader John Thune stated that the Senate is not expected to pass the bill before the August recess.The CLARITY Act aims to establish a clearer regulatory framework for digital assets, promoting the integration of blockchain and crypto assets into the mainstream financial system. Previously, the bill had undergone multiple rounds of negotiations between the crypto industry and opposing forces, such as the banking sector, and was once considered close to passage.However, recent controversy surrounding conflicts of interest related to President Donald Trump and his family's involvement in crypto projects has emerged as a new obstacle. Democrats are demanding the inclusion of ethical clauses in the bill that would restrict government officials from profiting from crypto transactions, a stance Republicans have previously opposed. Prediction market data indicates that the probability of the CLARITY Act passing this year has significantly declined. Polymarket data shows that as of Friday, the probability stood at approximately 37%, well below the over 80% level seen earlier this spring.Crypto policy organizations and industry insiders believe the current delay is largely influenced by the political dynamics of the U.S. midterm elections. Ron Hammond, Head of Policy and Advocacy at Wintermute, stated that the votes to support the bill may still exist, but "election politics are louder." He suggested that a window for advancing the bill could still emerge after the November elections.Analysts point out that if Congress needs to prioritize major issues such as government funding and national defense before the end of its current term, the CLARITY Act could be further marginalized. As the U.S. political landscape may shift following the midterm elections, the outlook for crypto regulatory legislation remains highly uncertain. (Fortune)
Related news
Trump Pushes for CLARITY Act Passage; Crypto Leaders Participate
US President Donald Trump joined executives from crypto companies such as Coinbase and Gemini to urge the Senate to pass the CLARITY Act, which was passed by the House of Representatives in July 2025 but has stalled in the Senate.
Solana Policy Institute CEO: Clarity Act Stuck in "August Recess Purgatory," Only 10% Chance of Passage Before Midterms
Odaily News - Solana Policy Institute CEO Miller Whitehouse-Levine stated that the window for the Clarity Act to pass before the November midterm elections is closing rapidly. Speaking at the Wyoming Blockchain Symposium 2026, he estimated that the probability of the bill becoming law before the midterms is only about 10%.Whitehouse-Levine described the bill as currently being in "August recess purgatory." He noted that the Senate has been working on the legislation for over a year, but as time in the current Congress runs out, completing the legislative process is becoming increasingly difficult.He added that the procedural motion scheduled for September 15 is only the first step in a series of votes needed to move the bill forward, so he remains "hopeful, but realistic about the odds."This assessment is more pessimistic than that of prediction markets. Polymarket currently shows a 21% probability of the Clarity Act being signed into law by year-end, with trading volume exceeding $7 million on the relevant market; Kalshi puts the probability at 23%, down from 50% less than a month ago.
White House Crypto Advisor Patrick Witt: Remains "Optimistic and Bullish" on Clarity Act Passage
According to Odaily, Patrick Witt, the White House's chief crypto advisor, stated that despite ongoing controversies surrounding stablecoin yields and conflicts of interest involving Trump's crypto holdings, he remains optimistic that the Clarity Act will ultimately become law.Speaking at the SALT annual conference in Wyoming on Tuesday, Witt noted that lawmakers are currently in the August recess and are expected to return to Washington in mid-September. Senate Majority Leader John Thune has scheduled a procedural vote on the bill for September 15.Witt said the White House will sit down with Democrats to discuss points of disagreement and work to secure solid votes by September 15. He expressed that he is "genuinely optimistic and bullish" on the bill.The Clarity Act, spanning over 600 pages, aims to establish a comprehensive federal regulatory framework for the U.S. crypto industry, but has faced multiple setbacks over the past few months. Key disputes currently include how to treat stablecoin yields, as well as Democratic concerns over conflicts of interest involving Trump and his family's crypto business ventures.Overall, the September 15 vote will be a critical juncture for whether the Clarity Act can continue to advance. While the White House is attempting to send positive signals, the bill still requires bipartisan support, particularly in reaching compromises on issues such as stablecoins, ethics provisions, and regulatory division of labor.
Brian Armstrong: SEC Advances Token Classification, Urges Swift Passage of the CLARITY Act
Odaily News: Brian Armstrong posted on X platform, expressing appreciation for the progress made by Paul S. Atkins and the SEC on token classification, calling it a long-awaited step toward modernizing the financial system. He stated that he has been calling for clear cryptocurrency rules for years, and that token classification is precisely the measure the U.S. needs to maintain innovation. Brian Armstrong also said he looks forward to the SEC issuing the Innovation Exemption to promote on-chain trading of tokenized stocks. He noted that relevant progress is underway and that the CLARITY Act should be pushed forward and passed as soon as possible, moving the market on-chain before other regions take the lead.
Galaxy Research: CLARITY Act Passage Probability Drops to 10% This Year
Galaxy Research has sharply lowered the probability of the U.S. CLARITY Act passing this year from the previous 75% to 10%, believing that disagreements over ethical provisions, bank lobbying, and the limited legislative time window in September have all increased the difficulty of passing the bill.
Galaxy Lowers Probability of CLARITY Act Passage This Year from 75% to 10%
: Digital asset firm Galaxy Digital has lowered the probability of the CLARITY Act passing this year from 75% in May to 10%. The bill proposes that two U.S. federal regulatory agencies each oversee crypto asset regulation separately. U.S. Senators will return to Washington on September 14, followed by a working period of approximately three weeks. According to the Senate schedule, the motion to invoke cloture to advance the bill will be eligible for a vote at 2:15 PM on September 15. The motion requires the support of at least 60 senators. Republicans currently control 53 seats; if all Republican senators support the bill, support from at least 7 senators from other parties would still be needed. Galaxy Digital stated that unresolved ethics concerns, declining Republican support due to banking lobbying, and the shorter legislative window in September constitute the main obstacles to the bill's passage this year. (Bitcoin.com News)