This note of caution from the banking giant’s analysts, the subject of a Thursday (July 30) CoinDesk report, comes as the passage of the CLARITY Act in the U.S. Senate this year becomes increasingly less likely.

“The longer the approval of the CLARITY Act is postponed, the greater the threat to crypto markets from the growth of tokenization and blockchain-based applications eventually being absorbed by incumbent market infrastructure rather than accruing to public crypto networks,” the analysts wrote in their report.

As CoinDesk noted, the CLARITY Act would create clearer oversight over digital assets by splitting jurisdiction…