JPMorgan is carrying out an interesting analysis of the regulatory landscape in the US. Basically, the bank is saying that the CLARITY Act could be approved by mid-2026, and that would be a major catalyst for the American crypto sector.

What stands out is that this bill aims to replace years of regulation with oversight that is much more structured. We’re talking about clear classifications for tokens, defined roles for intermediaries, and a framework that finally pulls the industry out of this regulatory gray zone. Analysts led by Nikolaos Panigirtzoglou point out that approval by mid-year could make room for the tokenization of real-world assets and facilitate entry by institutions.

But there are two sticking points holding everything back. First, the issue of stablecoins and yield—crypto wants to be able to offer yield, while traditional banks are worried about deposit outflows. Second, a conflict of interest: Democrats want to prohibit officials and their families from having ties to crypto. These two points alone have delayed legislative momentum.

What’s curious is that despite a weak market, JPMorgan maintains a constructive outlook. They view this as a structural shift, not a short-term fix. Regulatory clarity could boost institutional participation, along with benefits such as better tax treatment for small transactions and staking.

If this moves forward by mid-year, it’s really a game changer. It won’t solve everything overnight, but it opens the door to tokenized deposits and the issuance of real-world assets at scale. It’s worth keeping an eye on how this develops over the coming months.