TD Cowen sees 25% chance of Clarity Act passing this year

TD Cowen estimates the Clarity Act has a 25% chance of passing this year, The Block reported. The firm said the bill’s stablecoin yield provision appears useful, but it remains unclear whether moderate Democratic lawmakers will accept the revised guardrails. TD Cowen added the revised rules could still leave room for President Donald Trump to invest in crypto through a trust, making Democrats’ response a key point to watch.