On April 16, JPMorgan analysts stated that negotiations on the Закон о структуре рынка криптовалют в США (CLARITY Act) have entered the final stage, and both sides are working to reach compromises on several remaining contentious points. The number of disputes has decreased from more than a dozen to 2-3 key issues, and discussions on stablecoin rewards are “in good shape.” Although banks express concern that stablecoins offer returns similar to deposits, there is generally a trend toward bipartisan compromises. JPMorgan believes there is “no perfect law”; once enacted, the law will provide important regulatory clarity for integrating digital assets into the U.S. financial system. The remaining major disagreements focus on stablecoin rewards, DeFi regulation, and token classification. While optimism is growing, there is still a risk of delays due to the 2026 midterm elections, which could lead to a more uncertain political environment. If ultimately passed, the law will define regulatory authority between the SEC and CFTC, establishing a long-term regulatory framework for stablecoins, DeFi, and the entire cryptocurrency industry.