The US Senate is running out of time to advance the CLARITY Act, but Bitwise says a decisive failure could eventually remove an obstacle weighing on crypto markets.

Senate leaders face a narrowing window on Wednesday to file for cloture if they want to preserve a chance of voting on the digital asset market structure bill before lawmakers leave Washington.

The Senate’s scheduled state work period begins Aug. 10, while Bitwise Chief Investment Officer Matt Hougan said lawmakers are expected to leave Friday and return Sept. 14.

The Senate’s Wednesday floor schedule was focused on government funding legislation and did not list the CLARITY Act, leaving supporters with only hours to secure a procedural path forward.

Hougan said passage…