Wintermute Policy Director: Negotiations are repeatedly stalled, and disagreements are intensifying; the likelihood of the Clarity Act passing within the year is only 30%.

ME News report: On April 11 (UTC+8), Ron Hammond, policy head of crypto market maker Wintermute, said the probability of the U.S. crypto market structure bill, the “Clarity Act,” passing this year is about 30%. Although there are signs of progress in Washington, the legislative process is still constrained by multiple factors. Hammond noted that the bill is intended to clarify the division of responsibilities between the SEC and the CFTC in the regulation of digital assets, but current negotiation progress is uneven and the timetable has been postponed multiple times. Market surveys show there are still major disagreements regarding whether the bill will be passed. The main resistance comes from traditional banking institutions, especially disagreements over whether stablecoins should be eligible to offer yields, and related compromise proposals have been blocked repeatedly. In addition, internal divisions within the Democratic Party, issues such as DeFi compliance and anti-money laundering, and potential political factors also add uncertainty to the legislation. Even so, Hammond believes there is still room to advance the bill, but whether it can be implemented within the year depends on whether key disagreements can be resolved. (Source: PANews)