JPMorgan warns time is running short for crypto market structure bill

PolicyShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailJPMorgan warns time is running short for crypto market structure billThe Clarity Act still faces several legislative hurdles, and disputes over stablecoin yield have emerged as a key sticking point, the bank said.By Will Canny, AI Boost|Edited by Jamie Crawley Jun 4, 2026, 11:10 a.m. 3 min readMake preferred on What to know: JPMorgan said the window for Congress to pass the Clarity Act this year is narrowing as the midterm election calendar tightens. Debate over whether stablecoins can offer yield remains the biggest obstacle, with banks and crypto firms divided on the issue. Restrictions on passive stablecoin yield could drive more capital toward tokenized Treasuries, money-market funds and tokenized deposits, the bank said.JPMorgan (JPM) said the proposed U.S. crypto market structure bill, known as the Clarity Act, may have only a limited window for passage this year as the congressional calendar tightens ahead of the midterm elections and debate over stablecoin yield remains unresolved."With the U.S. midterms approaching, the legislative window for passage of the Market Structure Bill has narrowed, which could postpone progress oncrypto market-structure reform this year," wrote analysts led by Nikolaos Panigirtzoglou in the Wednesday report.The bill cleared the Senate Banking Committee on May 14, but must still secure 60 votes in the full Senate, be reconciled with House legislation and receive the president's signature. Those remaining steps, coupled with growing pushback from the banking industry, have lowered expectations that the measure will be enacted this year, the analysts said.Timing could also prove significant. A compromise reached before the midterms could look materially different from one negotiated after the elections, when political incentives may shift.The Clarity Act is widely viewed as the crypto industry's most important legislative priority because it would establi…

JPMorgan warns time is running short for crypto market structure bill

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