The Senate Banking Committee has scheduled a Thursday markup for the CLARITY Act after an earlier review stalled over objections to stablecoin yield provisions and concerns from some Democrats about Trump-related crypto conflicts.
The Senate Banking Committee has scheduled a Thursday markup for the crypto market structure bill, the CLARITY Act, after an earlier review was halted by objections to stablecoin yield provisions from Coinbase CEO Brian Armstrong and others. The debate follows a broader dispute over whether stablecoin issuers should be allowed to offer rewards or interest-like incentives, which banking groups say could draw deposits away from traditional banks and raise financial stability concerns. The new development also introduces potential political resistance, as some Democrats may oppose the bill over concerns related to Trump-linked crypto conflicts.