TD Cowen Puts Odds of Clarity Act Passing This Year at 25%
JH Kim
Summary
- TD Cowen put the odds of the Clarity Act, a U.S. crypto market structure bill, passing this year at 25%.
- TD Cowen viewed provisions related to stablecoin yields favorably, but said it remains unclear whether moderate Democratic lawmakers will accept the revised ethics rules.
- TD Cowen said the revised rules could still allow U.S. President Donald Trump to invest in crypto assets through a trust, and that Democratic lawmakers' response will be a key variable in the Clarity Act's path through Congress.
Forecast Trend Report by Period
TD Cowen put the odds of the Clarity Act, a U.S. crypto market structure bill, passing this year at 25%.
Crypto outlet The Block reported on September 14 that TD Cowen viewed provisions tied to stablecoin yields favorably. Still, it said it remains unclear whether moderate Democratic lawmakers will accept the revised ethics rules.
TD Cowen also said the revised rules could still leave room for U.S. President Donald Trump to invest in crypto through a trust.
It said Democratic lawmakers' response to that provision will be a key variable in the Clarity Act's path through Congress.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.