JPMorgan has stated that the diminishing likelihood of the Clarity Act in the U.S. is a significant factor weighing on the crypto outlook.
According to the bank, the deteriorating prospects for U.S. market structure legislation remove a key catalyst for digital assets.
This development comes despite advancements in tokenization and institutional adoption of digital assets, which are typically seen as positive factors for the industry.
This is based on reporting from CoinDesk.