Finally settled? JPMorgan: Negotiations on the Crypto Market Structure Law CLARITY draft are nearing completion

JPMorgan Chase indicates that negotiations on the U.S. CLARITY Act are nearing completion, with core disputes reduced to 2 to 3 items, and the development of the “stablecoin yield” issue is optimistic.

The U.S. cryptocurrency industry has been waiting a long time for good news regarding the CLARITY Act. JPMorgan’s latest report states that legislative negotiations on the CLARITY Act are close to the end, and parties are expected to reach a final agreement in the short term.

In a report on Wednesday, JPMorgan said that discussions between lawmakers and regulators show that the bill is nearing completion, with only a few disputes remaining unresolved.

A senior policy official revealed that the list of disputes, which once included more than a dozen items, has now been reduced to just “2 to 3”; as for the previously heated “stablecoin yield” topic, it is now developing in an optimistic direction.

The three core pillars of the CLARITY Act: Jurisdiction, Stablecoins, DeFi

The CLARITY Act aims to bring a clearer regulatory framework to the cryptocurrency industry, including the division of jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as clear regulations for stablecoins and decentralized finance (DeFi) platforms.

Members of Congress involved in drafting the bill are highly optimistic about this. A report quotes an insider Senate staffer who states that the legislative draft “is close to completion,” with only a few issues remaining, such as DeFi regulation and token classification, which are expected to be resolved in the near future.

One of the most controversial points of the bill is whether to allow stablecoin issuers to offer users rewards similar to yields. This proposal was previously met with strong resistance from the traditional financial sector, with banks questioning whether this move is akin to operating a “deposit-taking” business without equivalent regulation in place.

However, JPMorgan is optimistic that the latest version of the draft could gain support from both the cryptocurrency industry and traditional financial institutions.

Election Variables May Delay Legislation Progress

Despite the progress, the path for the CLARITY Act is not without uncertainties. The final text of the bill has not yet been officially released, and Congress has not scheduled a specific voting date. Some policy experts warn that if legislation is delayed, it could push the bill into a more uncertain political environment.

JPMorgan points out that the outlook for the 2026 midterm elections is unclear, with market expectations that the Democratic Party may regain control of the House of Representatives. If there is a major reshuffle in Congress, cryptocurrency legislation could lose priority and slow down the bill’s progress.

• This article is reprinted with permission from: “BlockBeats”
• Original title: “Breakthrough Progress on the CLARITY Act! JPMorgan: Draft Legislation ‘Close to Completion’”
• Original author: Block Sister MEL