JPMorgan has warned that the proposed U.S. crypto market structure bill, known as the Clarity Act, may have only a limited window for passage this year as the congressional calendar tightens ahead of midterm elections.

Legislative hurdles remain

The bill cleared the Senate Banking Committee on May 14, but still needs 60 votes in the full Senate, reconciliation with House legislation, and the president’s signature.

Analysts led by Nikolaos Panigirtzoglou wrote in a Wednesday report:

“With the U.S. midterms approaching, the legislative window for passage of the Market Structure Bill has narrowed, which could postpone progress on crypto market-structure reform this year.”

Timing adds another layer…