The CLARITY Act is still on the table, even after stumbling at the procedural stage in the US Senate. According to a JPMorgan research note, the bill "isn't completely dead," but the window to get it passed this year is extremely tight.

What Happened

The bill failed a key procedural vote in the Senate, coming in at 49–50 in favor of advancing the legislation, when 60 votes were needed to move forward. So for now, the initiative doesn't have enough support to proceed.

JPMorgan's Take

The bank says the CLARITY Act still has a slim chance, but the odds of passing it in 2024 are very limited. JPMorgan stresses that the bill isn't fully off the table, but the political window to push it through the Senate is about as narrow as it gets right now.