Bernstein: The market may underestimate the progress of the CLARITY Act

GSR Content and Special Projects Director Frank Chaparro forwarded that Bernstein stated the market may have underestimated the progress of the CLARITY Act. The agency noted that the latest ethical proposal "may be the best outcome," and the White House's concessions on state attorneys general enforcement and crypto asset divestment could garner enough support from Democrats for Tuesday's vote to end debate.

Some Democrats may be reluctant to appear "anti-crypto" before the midterm elections. Predictive market odds have risen back above 30%. Bernstein stated, "Any positive surprise is certainly not yet priced in."