Clarity Act Passage Before the November Midterm Election Is Uncertain, TD Cowen Says

TD Cowen said passage of the Clarity Act before the November midterm election is “far from assured.” According to NS3.AI, TD Cowen analyst Jaret Seiberg outlined several factors he sees as obstacles to advancing the legislation on that timeline. Seiberg cited Senate timing as a key constraint and pointed to U.S. President Donald Trump’s position as another potential hurdle. He also flagged ethics rules and law enforcement concerns as issues that could complicate progress. In addition, Seiberg highlighted stablecoin yield provisions as a further point of contention that could affect whether the bill moves forward before the November midterm election.