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Crypto

WSJ says CLARITY bill could become new risk to financial system, urges last-minute changes

Concerns have emerged that the U.S. Senate’s proposed CLARITY bill, while improving regulatory clarity, could create new risks for the financial system. The Wall Street Journal editorial board said the bill could reduce uncertainty by more clearly dividing oversight between the SEC and CFTC. It urged changes to provisions affecting stablecoin rewards and exemptions from AML and KYC obligations for parts of decentralized networks. Industry figures rejected the criticism.

Crypto

U.S. CLARITY bill faces possible delay as Congress recess nears, vote uncertain

Prospects for passing the U.S. CLARITY bill setting a regulatory framework for digital assets have dimmed again ahead of a five-week congressional recess. Market expectations of a vote may be pushed back as lawmakers prioritise other legislation. Although the bill passed the House on a bipartisan basis last year, it remains deadlocked this year as ethical provisions and political burdens draw growing attention. Banking opposition also remains a hurdle.

Crypto

U.S. Republicans release revised CLARITY bill package as vote nears amid ethics provision dispute

U.S. Senate Republicans released a revised, consolidated version of the CLARITY bill to set a federal framework for digital asset market structure, as the crypto industry urges a floor vote before the summer recess. Democrats are strongly opposing ethics provisions and expanded Justice Department authority, seen as key obstacles to passage. With 60 votes required, Republicans need at least seven Democratic votes. The Senate is expected to recess in about two weeks.