Wintermute Policy Director: Negotiations are repeatedly stalled, disagreements are intensifying, and the likelihood of the Clarity Act passing within the year is only 30%

ME News Report: On April 11 (UTC+8), crypto market maker Wintermute’s policy head Ron Hammond said the probability that the U.S. cryptocurrency market structure bill, the “Clarity Act,” will pass this year is about 30%. Although there are signs of some progress in Washington, the legislative process is still constrained by multiple factors. Hammond noted that the bill is intended to clarify the division of responsibilities between the SEC and CFTC in regulating digital assets, but current negotiation progress is uneven, and the timeline has been delayed multiple times. Market surveys show that significant disagreement remains regarding the bill’s expected approval.

The main resistance comes from traditional banking institutions, especially the disagreement over whether stablecoins should be eligible to pay interest/earnings; related compromise proposals have repeatedly been blocked. In addition, divisions within the Democratic Party, issues such as DeFi compliance and anti-money laundering, and potential political factors also add uncertainty to the legislation. Even so, Hammond believes there is still room to move the bill forward, but whether it can be enacted within the year depends on whether key disagreements can be broken through. (Source: PANews)