JPMorgan (NYSE:JPM) warns that fading CLARITY Act odds are a setback for crypto markets since further delays give traditional finance infrastructure a bigger head start over public crypto networks.
JPMorgan’s Warning: This Is Not Just About a Delayed Vote
JPMorgan analysts led by Nikolaos Panigirtzoglou put CLARITY Act passage odds at just 37%, according to a Wednesday report cited by CoinDesk.
The Senate is heading into summer recess with four issues still unresolved: ethics provisions, stablecoin yield, DeFi rules, and anti-money laundering requirements.
“The longer the approval of the Clarity Act is postponed, the greater the threat to crypto markets from the growth of tokenization and blockchain-based applications eventually being absorbed by incumbent market infrastructure rather than accruing to public crypto networks,” the analysts wrote.
