JPMorgan: Clarity Act ‘Not Fully Dead’ but Passage Window ‘Extremely Narrow’

JPMorgan's framing matters less for what it predicts than for what it refuses to close off: a major bank treating the market-structure bill as dormant rather than defeated keeps it on the institutional radar even as the calendar runs down. The practical effect lands on crypto firms and exchanges that have been positioning around a US framework, since the timing of any rules — not just their content — shapes where activity and listings get built. Whether the window reopens in a later session is the open question, and that depends on a legislative schedule the bank itself describes as the binding constraint.