Crypto market maker Wintermute policy chief Ron Hammond stated that although legislative momentum in Washington is increasing, the probability of the Clarity Act passing in 2026 is only 30%. The bill aims to regulate the structure of the U.S. crypto market and clarify the regulatory responsibilities of the SEC and CFTC. Hammond pointed out that opposition from banks is the biggest obstacle, especially regarding whether stablecoins should generate yields. A compromise proposal called the "yield agreement" that was proposed about two weeks ago has already failed. (CoinDesk)