Citibank: Final passage of US crypto market structure bill may be pushed back beyond 2026
Summary
- Citibank said it is increasingly likely that final passage of the crypto-asset (cryptocurrency) market structure bill (the CLARITY Act) will be delayed beyond next year—to after 2026.
- The report said the CLARITY Act is serving as a key catalyst in the US crypto legalization process, but that the legislative pace is slowing.
- The report said clarifying the definition of DeFi is the biggest obstacle, while provisions related to stablecoin rewards are an area where compromise is relatively more achievable.
Citibank: Final passage of US crypto market structure bill may be pushed back beyond 2026
Citibank said the final passage of the crypto-asset (cryptocurrency) market structure bill, the CLARITY Act, could be delayed until after next year.
According to crypto-focused media outlet CoinDesk on the 30th (local time), Citibank said in a recent report that “the CLARITY Act is serving as a key catalyst in the process of legalizing crypto assets in the United States, but negotiations over major contentious provisions are slowing the pace of legislation.”
Citibank added, “While there is a political objective to secure final passage within the coming months, it is increasingly likely that the actual passage will be pushed back beyond 2026.”
The report said clarifying the definition of DeFi would be the biggest obstacle. Specifically, it explained that a key point of contention is the criteria for when decentralized protocols, software, and developers are deemed to be regulated service providers.
By contrast, it said provisions related to stablecoin rewards are “an area where compromise is relatively more achievable.”
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
