JPMorgan said a drop in the chances of the Clarity Act passing the U.S. Senate this year is weighing on the crypto market, according to a report by CoinDesk. The bank warned that more delays could weaken one of the industry’s most important regulatory catalysts. JPMorgan said the Senate prioritized other bills before its summer recess, and prediction markets now put the odds of the legislation passing by year-end at just 37%. Talks remain deadlocked over ethics provisions, enforcement, DeFi, stablecoin yield, and anti-money laundering rules. The comments point to a more difficult path for a bill that market participants have been tracking closely as a potential source of regulatory direction for the crypto sector.
JPMorgan said the falling odds of the Clarity Act passing the U.S. Senate this year are weighing on the crypto market, according to CoinDesk.
The bank warned that additional delays could weaken one of the industry’s most important regulatory catalysts. It said the Senate moved other legislation ahead of the bill before the summer recess, and prediction markets now place the chances of passage by the end of the year at 37%.
JPMorgan also said negotiations remain stuck on ethics provisions, enforcement, DeFi, stablecoin yield, and anti-money laundering rules.
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