JP Morgan Casts Doubt on Passage of 'Clarity Act' Before Midterm Elections

Diminishing Prospects for Passage

JP Morgan analysts, in a report published this week, indicated that multiple obstacles are converging to hinder the passage of the US cryptocurrency market structure bill, known as the 'Clarity Act', within this year. The analysis, reported by The Block among others, was compiled by Managing Director Nikolaos Panigirtzoglou and his team.

The bill passed the Senate Banking Committee on May 14 with a vote of 15 in favor and 9 against...