TD Cowen flags five hurdles to crypto bill beyond stablecoin yield issue
The Block
Investment bank TD Cowen identifies five legislative challenges facing the proposed crypto bill, complicating prospects for its passage before the August recess.Summary
Beyond the contentious issue of stablecoin yields, TD Cowen highlights five significant obstacles to the Clarity Act: the lack of confirmed CFTC commissioners, potential complications from prediction market regulations, associations with the World Liberty Financial project, concerns over crypto usage in Iranian sanctions evasion, and the potential inclusion of the Credit Card Competition Act. While Senator Thom Tillis suggests a markup may be delayed until May, analysts stress that achieving bipartisan support and securing personal involvement from Donald Trump remain essential for the bill to overcome these hurdles and pass the Senate.
(Source：The Block)