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Crypto Market Has ‘Definitely Not Priced In’ Clarity Act Surprise, Says Bernstein

Crypto Market Has ‘Definitely Not Priced In’ Clarity Act Surprise, Says Bernstein

In brief

  • Bernstein says markets have not priced in a positive surprise on the Clarity Act.
  • Republicans revised ethics enforcement and protections for community-bank deposits.
  • Analysts disagree on the prospects for passage ahead of Tuesday’s procedural vote.

Crypto markets may be underestimating progress on the Clarity Act after Republicans offered concessions on ethics and banking concerns, Bernstein analysts said ahead of a Senate procedural vote tomorrow.

“We reckon any positive surprise is definitely not priced in,” analysts led by Gautam Chhugani wrote in a client note on Monday.

Myriad: Will Congress pass the Clarity Act? Click to make your prediction.
Myriad: Will Congress pass the Clarity Act? Click to make your prediction.

The Clarity Act would establish federal rules for digital assets and clarify…

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