TD Cowen Warns US Crypto Bill Still Faces Major Senate Hurdles

• TD Cowen expects the Senate to begin considering the Clarity Act in mid-July.
• Political disagreements, ethics rules, and banking opposition continue to complicate the bill.
• Analysts at Galaxy Research and JPMorgan have also lowered expectations for the bill this year.

The United States’ long-awaited crypto market structure legislation is approaching another critical stage, but Wall Street analysts believe the path to approval remains uncertain despite growing momentum in Congress.

Notably, TD Cowen expects the Senate to begin formal consideration of the Clarity Act in July. Even so, the investment bank says political disagreements, regulatory concerns, and competing legislative priorities continue to cast doubt over whether lawmakers can approve the bill before the November midterm elections.

TD Cowen Sees Difficult Road Ahead for Clarity Act

According to TD …

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