Wall Street's Jefferies sees market structure bill as tokenization inflection point

Infrastructure gains and regulatory momentum are accelerating tokenization. A market structure bill is the missing link for the next phase of digital asset adoption. What to know : Jefferies said the CLARITY Act is the clearest roadmap yet for U.S. digital asset market structure, even as passage looks uncertain. A proposed ban on stablecoin yield could reshape incentives for exchanges and issuers, while leaving transaction-based rewards intact. TradFi tokenization efforts are likely to accelerate if regulatory clarity unlocks broader participation by banks and market infrastructure firms, the bank said.