TD Cowen: CLARITY Act faces Senate hurdles, may be delayed to 2027

Research and brokerage firm TD Cowen has stated that an upcoming vote on the CLARITY Act, scheduled for May 14, is not the final step toward its passage. According to The Block, Jaret Seiberg of TD Cowen's Washington Research Group explained in a report that the vote is more of a transition point to move the bill to the Senate floor rather than its final approval. He noted that significant challenges remain for the bill to be enacted this year. Seiberg highlighted that the Democratic Party is likely to be cautious about supporting the bill unless it includes provisions to prevent conflicts of interest related to the Trump family's cryptocurrency businesses. At the same time, President Trump is unlikely to sign legislation that would restrict his family's crypto ventures. If these issues are not resolved, Seiberg suggested the bill's passage could be postponed until after 2027, with the implementation of final regulations potentially delayed until 2029.