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Bernstein warns crypto could fall again if Clarity Act stalls
Bernstein expects regulators to accelerate rulemaking under Project Crypto even without the bill, though a failure to pass the Clarity Act this year could trigger a near-term selloff across digital assets.
CoinDesk reports that Bernstein said in a note Monday that failure to pass the Clarity Act this year would likely weigh on bitcoin and broader crypto markets in the near term, warning of a potential additional selloff.
The broker pointed to deteriorating odds for passage as the Senate runs out of time before recess, despite resolving contentious issues including stablecoin yield rules.
Bernstein argued that while a setback would likely trigger an immediate negative reaction across digital assets, it would probably be temporary if the SEC and CFTC expand rulemaking under President Donald Trump’s Project Crypto initiative.
The note also said regulatory clarity remains important to bring crypto innovation, tokenization, and more traditional financial institutions onshore, with Bernstein expecting faster progress on token classifications, DeFi guidance, self-custody rules, and innovation exemptions for token issuance.
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