JPMorgan Sees CLARITY Act Approval as Potential Crypto Catalyst in H2 2026

JPMorgan analysts led by Managing Director Nikolaos Panigirtzoglou said potential approval of the market-structure legislation, also known as the CLARITY Act, by mid-2026 could act as a positive catalyst for crypto markets in the second half of the year. The outlook comes as broader market sentiment remains negative, with investors shifting toward a risk-off stance amid ongoing macroeconomic uncertainty.

The bill would split oversight between the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC), classifying tokens as either digital commodities or securities. JPMorgan’s analysts said that if the bill passes, "it will reshape market structure by providing regulatory clarity, ending 'regulation by enforcement,' promoting tokenization, and facilitating greater institutional participation." The House advanced the CLARITY Act in June, but it has stalled in the Senate Banking Committee and Coinbase withdrew its support after the Senate’s amendments.

United States

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