Kevin O'Leary expects Congress to resume discussions on the CLARITY Act after the midterm elections, potentially in the first quarter of next year and by the second quarter at the latest. Speaking at the Avalanche Summit in New York on Sept. 17, he said the bill's defeat in the Senate represented a delay rather than the end of the legislation. The Senate secured 49 of the 60 votes needed to advance the measure. The CLARITY Act would establish a federal framework for the broader crypto market, including the respective responsibilities of the Securities and Exchange Commission and Commodity Futures Trading Commission. O'Leary linked renewed momentum for the bill to the Digital Asset Tax Certainty Act, H.R. 10357, which the House Ways and Means Committee passed this week. The tax bill covers staking, mining, de minimis transactions and broker requirements. He argued that taxing crypto activities will increase pressure on Congress to define the regulatory policies governing the industry, regardless of which party controls Congress after the midterms. O'Leary did not specify whether lawmakers would change the bill's contents or provide a precise reintroduction date.