Investment bank TD Cowen anticipates the U.S. Congress will pass the CLARITY Act in 2026, establishing a regulatory framework for cryptocurrency markets. The legislation aims to clarify the jurisdiction of digital assets between the SEC and CFTC, and regulate staking services, custody, and trading platforms. Proposed by Senate Democrats, the bill may also include ethical provisions barring the president and family members from owning exchanges or issuing tokens. While experts warn of potential delays until 2027, a compromise among stakeholders is expected.