BlockBeats News, April 1st. According to The Block, Jaret Seiberg, Managing Director at TD Cowen’s Washington Research Group, stated that the prospect of the US Crypto Market Structure Act “CLARITY Act” is becoming “increasingly pessimistic,” with only a one-third chance of passage this year. He noted that a recent compromise on stablecoin yields is “insufficient” to advance the bill, as it fails to meet the demands of crypto platforms like Coinbase and does little to address banks’ concerns about core deposit outflows.
Seiberg believes that the bill would only have a chance if the US Congress disregarded opposition from Coinbase and the banking industry and forcefully pushed through the compromise, but this would be an exception rather than the norm. He expects that if there is any progress on the bill, it is most likely to occur at the end of July, just before the August recess. Currently, Congress is in a two-week Easter recess.
