Investment bank TD Securities has said that the long-awaited crypto Clarity Act has a slim chance of getting passed in a Monday note, citing last week’s delay and potential stalling from the Democrats. 

The bank said that now the bill won’t be passed before the summer, it only has a 25% of getting passed in September. 

Lawmakers were hoping a crucial vote on the long-awaited crypto market structure bill was to go ahead before a five-week recess but news dropped last week that there was a delay and now the Senate will vote on the bill in September. 

“The bill is not dead, but the path forward is harder,” the bank said. “We assign a 75% probability that Clarity fails to become law this fall.” 

TD Cowen said one likely…