[TD Cowen: Probability of Crypto Market Structure Bill Passing This Year Only One-Third] Odaily Planet Daily reports that TD Cowen Managing Director Jaret Seiberg stated in a research report on Monday that the outlook for the crypto market structure bill, the Clarity Act, is becoming 'increasingly pessimistic.' He believes the probability of the Senate advancing the bill and it being passed by the House is only one-third. The bill is currently stalled in the U.S. Senate, and Congress has entered a two-week Easter recess. Seiberg noted that the recent compromise proposal on stablecoin yields, led by Senators Thom Tillis and Angela Alsobrooks, is 'insufficient' to advance the bill. The proposal prohibits offering yields on idle stablecoin balances but allows activity-based rewards when stablecoins are used. Seiberg believes this compromise may fail to satisfy either side: for crypto platforms, it would discourage investors from using stablecoins for liquidity management; for banks, it would incentivize crypto platforms to promote stablecoins for everyday payments, threatening core deposit businesses. Seiberg stated that the bill is most likely to advance in late July before Congress's August recess, as the pressure of the recess might force senators to reach a compromise. He also pointed out that even senators who were previously optimistic are lowering their expectations. Senator Mark Warner has reduced the probability of the bill passing from 80% to 50%-60%.