PANews reported on April 1st that, according to The Block, Jaret Seiberg, Managing Director of TD Cowen Washington Research Group, stated that the prospects for the passage of the US crypto market structure bill, the CLARITY Act, are "increasingly pessimistic," with only a one-in-three chance of passing this year. He pointed out that recent compromises regarding stablecoin yields are "insufficient" to advance the bill, failing to meet the demands of crypto platforms like Coinbase and failing to alleviate banks' concerns about core deposit outflows.

Seiberg believes the bill is only likely to pass if Congress ignores the objections of Coinbase and the banking industry and forces through the compromise, but this is an exception, not the norm. He predicts that if the bill makes progress, it will most likely happen before the recess in late July or August. Congress is currently in a two-week Easter recess.