JPMorgan is warning that delays in passing crypto legislation present a setback for that market. The JPMorgan analysts said the legislation would inspire institutional investment, increase U.S.-regulated trading and open the door for banks, exchanges, custodians and market makers. The CLARITY Act passed the House last year with bipartisan support, with the Senate Banking Committee advancing it in May. However, SEC Chairman Paul Atkins told CNBC on Thursday his agency is prepared to take action if Congress fails to act. We’re ready, willing and able to issue rules that address the same issues in CLARITY and other issues in the crypto market, and I think it behooves us to do that,” he said.