Citibank: US crypto market structure bill may be delayed past 2026

Citibank has assessed in a new report that while the crypto market structure bill (CLARITY) is a key catalyst for legalizing cryptocurrency in the U.S., its progress is being slowed by negotiations over controversial provisions. According to CoinDesk, Citibank noted that although the goal is to pass the bill in the coming months, it is increasingly likely to be delayed until after 2026. The bank identified clarifying the definition of DeFi as the biggest hurdle, with the main point of contention being when decentralized protocols, software, and their developers become regulated service providers. In contrast, the debate over stablecoin rewards is seen as having more room for compromise.