TD Cowen: Crypto market structure bill could be delayed to August or 2027

U.S. investment bank TD Cowen stated it disagrees with the argument that an agreement on the crypto market structure bill (CLARITY) must be reached before the congressional Easter recess at the end of March. The bank noted that there is still a possibility the bill's passage could be delayed until before the August congressional recess or even until 2027. According to The Block, TD Cowen Managing Director Jaret Seiberg explained that a deal is not essential within the next few weeks. He suggested that the legislative process could become smoother after the year-end primary elections are concluded, as some lawmakers may have more flexibility to negotiate. Seiberg also added that if the balance of power in Congress changes after the midterm elections, the bill's passage could be postponed until 2027.