According to CoinTelegraph, as the US Senate wraps up the Memorial Day holiday weekend and reconvenes this week, discussions on the 'Clarity Act' are expected to gain full momentum.

There are also variables to the bill's passage. Currently, the Democratic Party has taken the stance that it will refuse to support the bill if provisions preventing conflicts of interest for public officials are not included. Additionally, within the global financial industry, JPMorgan CEO Jamie Dimon has previously expressed his opposition to certain provisions.

With these intertwined political and industrial interests at play, the industry is closely watching the upcoming schedule, placing weight on the possibility of a Senate vote taking place as early as this August.