TD Cowen says crypto bill unlikely to pass this year amid worsening political environment

60-second summary

TD Cowen analysts warn that the Clarity Act's passage this year is unlikely due to a worsening political environment. The bill's prospects are dwindling as opposition grows, with the current political climate making it increasingly challenging to secure the necessary support. This development casts a shadow over the crypto industry's regulatory clarity, potentially hindering its growth and adoption.