Crypto Market Structure Bill Faces Uncertain Future Amid Election Clock

The proposed US crypto market structure bill, known as the Clarity Act, has been making its way through Congress, but analysts at JPMorgan warn that time is running out for passage this year.

The bill, which aims to establish a comprehensive federal framework governing digital assets in the US, must still secure 60 votes in the full Senate and receive the president's signature after clearing the Senate Banking Committee on May 14.

However, with the midterm elections approaching, the legislative window for passage has narrowed, making it unlikely that the bill will be enacted this year, according to JPMorgan analysts led by Nikolaos Panigirtzoglou.