Galaxy Research has lowered its estimate for the chances of the CLARITY Act passing this year to 10% from 75%, marking a sharp downgrade in expectations for the crypto market structure bill. The firm said unresolved ethics agreements, weaker Republican backing following lobbying by banks, and a September legislative session that lasts only two to three weeks are the main obstacles to passage this year. The assessment, reported by News.bitcoin, points to a much narrower path for near-term U.S. crypto legislation.