Clarity Act has not been signed into law on July 4th, making August 7th a key timeline

White House advisor Patrick Witt stated in May that he hoped the Clarity Act would be signed into law on July 4th, but the bill did not meet this deadline. CoinDesk reports that the biggest risk now actually comes from the House of Representatives. Recently, the U.S. House of Representatives has faced resistance in advancing multiple agendas, including important bills like the budget proposal. Market concerns are growing that declining legislative efficiency could further slow down the progress of the CLARITY Act.

Additionally, the market believes that August 7th (the last working day before the Senate's summer recess) will become an important time window for advancing the bill. (CoinDesk).