JPMorgan: The crypto market structure bill is expected to be approved by mid-year and become a positive catalyst in the second half of the year.

PANews, March 2 — According to The Block, JPMorgan analysts stated in a report that the U.S. crypto market structure legislation, the CLARITY Act, may be approved by mid-year and could serve as a positive catalyst in the second half of the year. The bill has currently advanced in the House of Representatives, while the Senate is still in discussions. At present, there are two major points of contention: stablecoin yield issues and conflicts of interest among government officials.

The analysts pointed out that if the bill passes, it will reshape the market structure by providing regulatory clarity, ending "regulation by enforcement," promoting tokenization, and encouraging institutional participation. The analysts listed eight potential positive impacts, including reducing compliance burdens for major tokens, supporting innovation in the U.S. market, unlocking secondary trading, allowing traditional banks to directly custody digital assets, promoting tokenization of real-world assets, protecting open-source developers, providing tax exemptions for small-value daily crypto payments, and advancing the development of inter-institutional tokenized deposits.