[JPMorgan: Crypto Market Structure Bill Likely to Be Approved Mid-Year, Becoming a Positive Catalyst for the Second Half of the Year] According to The Block, JPMorgan analysts stated in a report that the U.S. crypto market structure legislation, the 'CLARITY Act,' is likely to be approved mid-year and could serve as a positive catalyst for the second half of the year. The bill has already advanced in the House of Representatives, while discussions are ongoing in the Senate. Currently, it faces two major points of contention: stablecoin yield issues and conflicts of interest among government officials. Analysts pointed out that if the bill passes, it will reshape the market structure by providing regulatory clarity, ending 'regulation through enforcement,' promoting tokenization, and encouraging institutional participation. The analysts listed eight potential positive impacts, including reducing compliance burdens for major tokens, supporting innovation in the U.S. market, unlocking secondary trading, allowing traditional banks to directly custody digital assets, promoting the tokenization of real-world assets, protecting open-source developers, providing tax exemptions for small crypto payments in everyday transactions, and advancing the development of tokenized deposits among institutions.