BlockBeats message, April 1, according to a report by The Block, TD Cowen’s Washington research group managing director Jaret Seiberg said that prospects for the passage of the U.S. crypto market structure bill, the “CLARITY Act,” have become “increasingly bleak,” with only a one-in-three chance of passage this year. He noted that recent compromise proposals regarding stablecoin yield are “not enough” to move the bill forward: the proposal both fails to meet the demands of crypto platforms such as Coinbase and makes it difficult to allay banks’ concerns about core deposit flight.
Seiberg believes the bill could pass only if Congress were to ignore Coinbase and the banking industry’s objections and push a compromise through by force—something he described as an exception rather than the norm. He expects that if the bill makes progress, the most likely timing would be around the end of July, just before the August recess. Congress is currently in a two-week Easter recess.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
