JPMorgan's latest report shows that the window for the U.S. "Clarity Act" crypto market structure bill to pass this year is narrowing as midterm elections approach. Although the bill was approved by the Senate Banking Committee on May 14, it still needs to secure 60 votes in the full Senate and coordinate with House legislation, ultimately requiring the president's signature. The debate between the banking sector and crypto companies over whether stablecoins should be allowed to generate yields remains the biggest legislative obstacle. JPMorgan analysts stated that if legislation ultimately restricts passive income from stablecoins, the trend of idle crypto capital flowing into tokenized government bonds, digital currency market funds, and tokenized deposits is expected to accelerate. (CoinDesk)