TD Cowen: The likelihood of the US Clarity Act passing this year decreases

TD Cowen stated that due to the deteriorating political environment, the likelihood of the US crypto market structure bill, the Clarity Act, being passed this year has decreased. Analyst Jaret Seiberg pointed out that the Senate Banking Committee's push for the bill does not mean that the two parties have reached an agreement, but rather pushes the controversy to the entire Senate. The report states that the recent cryptocurrency controversy surrounding President Trump and his administration has made it more difficult for the Democratic Party to support the bill.