JPMorgan says crypto market structure bill could be approved by mid-year and serve as positive catalyst in second half

JPMorgan analysts have suggested that the legislative outlook for the cryptocurrency industry is brightening, with a key market structure bill potentially receiving approval by mid-2024. According to a recent research report, the passage of the ‘Financial Innovation and Technology for the 21st Century Act’ (FIT21) or similar legislation would provide much-needed regulatory clarity, acting as a major positive catalyst for digital assets in the second half of the year. The bank highlighted that such a bill would more clearly define the roles of the SEC and the CFTC, reducing the ‘regulation by enforcement’ approach that has characterized the U.S. market. While the bill saw bipartisan success in the House, JPMorgan notes that its progress in the Senate remains the primary hurdle. Nevertheless, the establishment of a formal framework is seen as a crucial step for institutional adoption and long-term stability in the crypto ecosystem.

Source: JPMorgan says crypto market structure bill could be approved by mid-year and serve as positive catalyst in second half