PANews reported on April 28th that, according to The Block, TD Cowen stated that Senator Thom Tillis has become the "latest obstacle" to the crypto bill due to his push to include an ethics clause in the Clarity Act. Tillis stated that he would oppose the bill if it did not include an ethics clause. TD Cowen analysts pointed out that the ethics clause could apply to the Trump family, and Tillis is unlikely to back down, given his recent victory over the president in the Federal Reserve nomination process. Tillis wields extraordinary influence over the bill's outcome; he requested last week that the Banking Committee postpone its consideration of the bill until May. TD Cowen believes the market's expectations for the bill's passage this year are overly optimistic. Other obstacles include vacant CFTC commissioners, conflicts of interest related to Trump's crypto project World Liberty Financial, and concerns about Iran's use of crypto payments. TD Cowen had previously lowered its probability of the bill's passage this year to one-third.