Bernstein: Clarity Act Progress Exceeds Market Expectations, Positive Sentiment Not Fully Priced

American digital asset market structure bill, known as the Clarity Act, is progressing further than expected according to Bernstein. The firm noted that Republicans may secure additional Democratic support by making concessions on ethics rules for public officials and addressing regional bank deposit outflows.

Bernstein also stated that the current digital asset market is overly focused on negative outcomes from the Clarity Act, suggesting positive developments related to the legislation have not yet been sufficiently priced into assets.