Jane Fraser, CEO of Citigroup, has endorsed the CLARITY Act market structure bill, saying it would be « excellent for the system » by improving regulatory predictability. However, Citigroup has lowered its Bitcoin price target to $82,000 over 12 months, down from $112,000, citing softer demand and weaker ETF inflows. Galaxy Research has drastically cut its odds of the CLARITY Act passing into law to just 10%, with political negotiations at a standstill. A Senate vote is scheduled for September 15th, but the bill requires 60 votes to pass, making passage highly uncertain.
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