Five banking groups rejected a compromise proposal as insufficient, increasing uncertainty for the Clarity Act as lawmakers face a tight timeline.
TD Cowen said the banking industry and the crypto sector still have no compromise on the Clarity Act (U.S. crypto market structure bill). The firm noted that five banking groups jointly rejected a compromise proposal, arguing it did not go far enough. With little time left for the bill to pass, the disagreement raises the risk that the legislation could stall.