The CLARITY Act would split federal oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, a framework JPMorgan suggests Congress is advancing too hastily. The bank argues that moving quickly to draft new rules could leave gaps in financial oversight, potentially creating loopholes that undermine the legislation's intended protections. The caution arrives as Senate leaders push to advance the broad bill ahead of a targeted July vote. Supporters view the measure as a long-awaited step toward regulatory certainty for the crypto industry, while critics worry that speed could compromise the quality and durability of the resulting rules. JPMorgan's intervention adds a prominent financial-sector voice to the debate over how carefully lawmakers should proceed in defining jurisdiction and standards for digital asset markets in the United States.
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