Research and brokerage firm TD Cowen diagnosed that the vote on the CLARITY Act, scheduled for the 14th (local time), does not signify the final passage of the bill. According to The Block, Jaret Seiberg of TD Cowen's Washington Research Group stated in a report, "This vote is less about the final passage of the bill and more a turning point where discussions on the CLARITY Act move to the Senate floor stage. There are still many challenges to be resolved for its enactment within the year. In particular, Democrats are likely to be cautious about supporting the bill if it does not include provisions to prevent conflicts of interest related to the Trump family's cryptocurrency business. At the same time, President Trump is unlikely to sign a bill that restricts his family's cryptocurrency business. If these issues are not resolved, the bill's passage could be delayed until after 2027, and the implementation of final regulations could be postponed until 2029."
