JPMorgan: Negotiations on the CLARITY Act Enter Final Stage, Disputes Reduced to 2-3 Core Issues

04/16 09:30

On April 16, JPMorgan analysts stated that negotiations on the U.S. Cryptocurrency Market Structure Act (the CLARITY Act) have entered the final stage, with both sides working to reach compromises on a few remaining contentious points. The number of disputes has been reduced from over a dozen to 2-3 core issues, with discussions on stablecoin rewards being "in a good place." While banks express concerns about stablecoins offering similar yields to deposits, there is an overall bipartisan compromise trend. JPMorgan believes that "there is no perfect bill"; once passed, the act will provide important regulatory clarity for the integration of digital assets into the U.S. financial system. The remaining major disagreements focus on stablecoin rewards, DeFi regulation, and token classification. Although optimism is rising, there is still a risk of delays due to the 2026 midterm elections, which could lead to a more uncertain political environment. If the act is ultimately passed, it will delineate the regulatory authority between the SEC and CFTC, bringing a long-term regulatory framework for stablecoins, DeFi, and the entire cryptocurrency industry.
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