Analysts at JPMorgan Chase reported that discussions on the CLARITY bill to create a regulatory framework for the crypto industry are nearing a conclusion. According to the bank, negotiators in Washington managed to minimize disagreements from around ten to two or three points. The most pressing issue about rewards to Stablecoins holders is said to be "in good shape," and the proposed trade-off formulations could accommodate both crypto companies and traditional financial institutions.

However, the risks remain. The final version of the document has yet to be published, the date for voting is uncertain, and upcoming congressional elections could shift power. JPMorgan warns: if the Democrats take back control of the House of Representatives, the topic of cryptoregulation risks being sidelined. Previously, TD Cowen analysts estimated the likelihood of a bill being approved before the Congress holiday in August to be one in three.

US Treasury Secretary Scott Bessaint meanwhile called for the passage of the CLARITY Act to be accelerated, warning that without it, the country could lose ground in setting global standards for digital assets.