CLARITY Act Update: Did JPMorgan Really Back the Crypto Market Structure Bill?

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Coinpedia2026/07/11 08:36

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BitGo CEO says JPMorgan's crypto stance improves CLARITY Act approval chances in Senate.
Eleanor Terrett disputes claims that JPMorgan has officially backed the CLARITY Act.
Senate returns July 13 with crucial procedural votes that could shape crypto regulation.

JPMorgan’s recent post on regulatory clarity has been viewed positively by the crypto industry. BitGo CEO Mike Belshe said the bank’s support for regulatory clarity could improve the CLARITY Act’s chances of passing the Senate.

However, crypto journalist Eleanor Terrett clarified that JPMorgan is not endorsing the CLARITY Act itself.

BitGo CEO Says JPMorgan’s Comments Could Boost CLARITY Act

BitGo CEO Mike Belshe believes JPMorgan’s recent comments on digital assets could improve the chances of the Digital Asset Market Clarity (CLARITY) Act becoming law.

In a post on X, Belshe argued that the world’s largest bank has indirectly supported the crypto market structure bill by calling for greater regulatory clarity around digital assets.

He pointed to a June 29 JPMorgan blog by Umar Farooq, Global Co-Head of J.P. Morgan Payments, and Peter Muriungi, CEO of Digital Assets and Blockchain Solutions.

In the blog, the executives said,

“The promise is clear. Tokenization and programmable money can reduce friction in payments, shorten settlement cycles, and unlock efficiencies that benefit businesses and consumers alike.”

Belshe: Regulatory Clarity Changes the Conversation

Belshe said JPMorgan’s comments carry significant weight because institutional investors and compliance teams closely follow the bank’s views.

“The Clarity Act isn’t perfect. No legislation is. But ‘world’s largest bank backs crypto market structure bill’ is a headline that changes boardroom conversations globally,” he wrote.

He added that the biggest obstacle for banks has not been blockchain technology, but the lack of clear crypto regulations.

Following the discussion, Polymarket odds of the CLARITY Act passing in 2026 rose slightly to 44%.

Eleanor Terrett Disputes the Claim

Crypto journalist Eleanor Terrett responded to Belshe’s post by saying that,

“Don’t think so.”

Her response was backed by many users. One user wrote that,

“If it’s not confirmed by Eleanor Terrett, then don’t believe it!”

The discussion shows that JPMorgan has publicly supported clearer crypto regulations, but it has not explicitly stated that it backs the CLARITY Act itself.

Next Key Date In Clarity Act

The next major milestone comes July 13–17, when the U.S. Senate returns from recess. Lawmakers are expected to release a merged version of the CLARITY Act before key procedural votes begin.

The bill still requires 60 Senate votes to clear procedural hurdles before advancing to a final floor vote. If it is not taken up before the Senate’s August recess, its progress could be pushed back until later this year.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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