TD Cowen Sees 25% Chance of Clarity Act Passing by Year-End

TD Cowen has forecasted a 25% chance of the U.S. virtual asset (cryptocurrency) market structure bill, known as the Clarity Act, being passed by year-end.

According to cryptocurrency-focused media The Block on Wednesday (U.S. time), TD Cowen positively assessed the stablecoin revenue provision in the legislation but noted uncertainty over whether moderate Democratic lawmakers would accept the revised ethics rules.

The firm also pointed out that former President Donald Trump may still be allowed to invest in virtual assets through a trust, even under the amended regulations.

TDCowen explained that how Democratic lawmakers respond to this provision will be a key variable in the Clarity Act's legislative process.