CLARITY Act

The Senate Banking Committee released the full 309-page text of the Digital Asset Market Clarity Act ahead of Thursday’s markup, setting up a high-stakes battle over stablecoin yield rules.

American Bankers Association CEO Rob Nichols urged bank leaders to lobby against a stablecoin yield provision in the Digital Asset Market Clarity Act ahead of Thursday’s Senate markup.

After nearly a year of delays, the Senate Banking Committee scheduled a markup of the CLARITY Act for May 14.

U.S. lawmakers and White House officials said that clear crypto rules will determine whether the U.S. leads financial innovation, with Sen. Cynthia Lummis warning that another hostile administration could mean “game over” for sensible regulation.

Speaking at The Bitcoin Conference, Senator Cynthia Lummis framed Bitcoin as “freedom money,” signaling that Senate lawmakers are preparing a May markup of the long-delayed Clarity Act.

Over 100 cryptocurrency firms and industry organizations are urging the U.S. Senate to move forward on long-delayed market structure legislation, cautioning that further delays could drive innovation and capital abroad.

Three finance and policy leaders urged Congress to pass the Clarity Act, a long-delayed bill that would establish U.S. rules for cryptocurrency and blockchain markets.

Crypto and banking industry representatives will review a revised stablecoin yield proposal this week as lawmakers try to resolve a months-long dispute over whether stablecoin issuers should be allowed to offer yield.

Key senators and the White House have reached a tentative agreement on crypto legislation to resolve a dispute between banks and digital asset firms.

U.S. senators are pushing to advance a bipartisan bill on crypto market structure before the Easter recess to provide regulatory clarity.