JPMorgan analysts stated that with the U.S. Senate shifting its legislative focus to other agendas, market expectations for the CLARITY Act to pass this year have dropped to their lowest point. Analysts believe the act is generally favorable for the development of the crypto market, but certain provisions in the current draft—such as allowing DeFi to trade tokenized securities and derivatives outside the jurisdiction of the SEC and CFTC, as well as lower AML requirements for some crypto institutions—might weaken institutional participation interest. JPMorgan warns that if the approval of the act continues to be delayed, the development of tokenization and on-chain financial applications may be increasingly absorbed by traditional financial infrastructure rather than benefiting public blockchain networks. (The Block) https://(wublock123.com)/news/jpmorgan-clarity-act-delay-impacts-crypto-market-outlook-65649