The Senate Banking Committee's CLARITY Act, aimed at regulating crypto markets, faces over 100 amendments ahead of markup, testing fragile compromises on stablecoins, banking, and crypto industry interests.
A senior White House official has accused major banking trade leaders of refusing to join earlier talks on stablecoin rewards, escalating a dispute that has become one of the final pressure points ahead of the Senate Banking Committee taking up the CLARITY Act this week. In a May 11 post on the social media platform […] The post White House reveals US banks ‘refused’ to attend meetings to resolve stablecoin rewards issue in CLARITY Act appeared first on CryptoSlate.
The CLARITY Act is heading back to the Senate Banking Committee on May 14 after months of stalled negotiations, putting a small group of Democrats at the center of the crypto industry’s push for a federal market-structure law. The markup comes after the bill was slowed by disputes over stablecoin rewards, anti-money laundering safeguards and […] The post CLARITY Act’s markup progress now hinges on these Democrat lawmakers appeared first on CryptoSlate.
The CLARITY Act's markup has moved past the stablecoin yield standoff to Sen. John Kennedy's housing frustration, unresolved protections for software developers, and the Republican vote math that Senate Banking Chair Tim Scott still needs to close. The Tillis-Alsobrooks compromise that broke the yield deadlock allows stablecoin rewards tied to platform usage and activity while […] The post Crypto Clarity rules may be delayed because Congress is somehow stuck arguing over housing appeared first on CryptoSlate.
Senators unveiled a Clarity Act compromise on the subject of stablecoin rewards. Crypto seems happy enough, but what about the banks?
The CLARITY Act is moving toward its next procedural test after Senate negotiators released compromise language on stablecoin rewards last week, raising expectations that the Senate Banking Committee could take up the measure as soon as the week of May 11. Alex Thorn, head of research at Galaxy Digital, said the release of text from […] The post CLARITY Act markup could come next week after stablecoin deal breakthrough appeared first on CryptoSlate.
The CLARITY Act has stalled in Senate Banking deliberations, threatening comprehensive crypto market rules. Galaxy Research gives it roughly 50-50 odds of passage this year. The stall creates an unintended experiment: if exchanges can operate in the unsettled regulatory perimeter around stablecoin rewards, the market could generate empirical data on whether exchange-funded inducements actually drain bank deposits—a debate currently fought with projections ranging from $2.1 billion to $6.6 trillion. The stablecoin market stands at over $320 billion against $19.1 trillion in US commercial bank deposits.
