CLARITY Act Incoming: Final Text Expected This Week On Stablecoin Yield Compr...
Senators are poised to publish a revised draft of the CLARITY Act — the long‑anticipated crypto market structure bill — as early as this week, according to reporting from Eleanor Terrett of Crypto In America. The timing comes amid an Easter recess that runs through April 13, but Terrett’s sources say lawmakers intend to unveil […]
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In a closed-door meeting on Capitol Hill, crypto industry leaders reviewed the latest text of the long-awaited crypto market structure bill, which focused on key proposals to address the stablecoin yield and rewards dispute. Related Reading: SBF Legal Saga Continues: Prosecutors Question Authenticity Of FTX Founder’s Retrial Motion Letter Latest CLARITY Act Draft Says No […]
Cryptocurrency exchange Coinbase has reportedly told Senate offices it cannot support the latest language inserted into the CLARITY Act, dealing a fresh setback to negotiations over the anticipated crypto market-structure bill. The dispute centers on newly revised provisions governing stablecoin yield arrangements, a key point of contention that has been the subject of months of talks on Capitol Hill. Coinbase Says No To Late‑Stage Compromise The Senate’s updated text would constrain how stablecoin yield programs operate, limiting structures that try to mirror bank deposit products and....
Momentum has picked up on Capitol Hill this week as lawmakers and industry leaders converged at the DC Blockchain Summit, where Senator Cynthia Lummis said she expects the long‑delayed Senate Banking Committee markup on the crypto market‑structure bill (CLARITY Act) to be scheduled for late April. Breakthrough On DeFi And Stablecoin Yield Senator Lummis told attendees she is confident the committee will approve the crypto market structure bill and that the full Senate could pass the legislation by the end of the year. “We’re gonna have this thing done come hell or high water by the end....
Circle shares slumped on Tuesday (nearly 20%) after U.S. lawmakers advanced the Clarity Act. This decline has been linked to the Clarity Act draft language that suggests it would curb interest paid on crypto stablecoin holdings. Related Reading: 3 Big Hyperliquid News You Might Have Missed This Week A Key Crypto-Basics Misunderstanding The reason of the sudden drop? The market is misunderstanding the legislation, analyst Gautam Chhugani and his three Bernstein colleagues said in an investor note shared with DL News. “The market is conflating who earns yield with who distributes yield”,....
The stablecoin market is facing a critical test. Not a market cycle. Not a liquidity event. A legislative one — and the damage is already visible. An XWIN Research Japan report documents what happened in a single session: Circle, the issuer behind USDC, shed 18% of its market value yesterday, erasing roughly $4.6 billion in […]