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Crypto

U.S. Senate Democrats push back against Republicans\' latest Clarity Act revisions, prepare counterproposal

U.S. Senate Democrats are preparing a separate amendment to counter Republicans\' latest revisions to the Clarity Act, a crypto market structure bill. Cointelegraph reported Democrats still have complaints about crypto ethics provisions in the updated text. The counterproposal is set to be filed just hours before a key procedural vote that will determine whether the bill advances to full Senate consideration. Democrats are seeking further changes despite Republicans calling their revision a final offer.

Crypto

U.S. bank groups seek to tighten Clarity Act stablecoin rewards limits

Concerns are rising in both the banking sector and the crypto industry over the final version of the Clarity Act ahead of a U.S. Senate procedural vote. Eight U.S. banking groups asked Senate leaders to strengthen limits on stablecoin rewards, warning the revised bill could allow payments similar to deposit interest. Crypto industry figures also criticized the amendment for omitting protection from federal criminal prosecution for certain developers. The Senate plans a procedural vote on Sept. 16, requiring 60 votes to advance.

Crypto

U.S. Senate Democrats hold emergency meeting ahead of Clarity Act vote, test of 60 votes

U.S. Senate Democrats are moving to coordinate internally ahead of a key vote on the Clarity Act, a cryptocurrency market-structure bill. Senate Democratic leader Chuck Schumer is set to convene a caucus meeting on Sept. 14 to discuss issues before a procedural vote planned for Sept. 15. The vote will determine whether the bill advances to full Senate consideration, with 60 votes needed and conflict-of-interest restrictions still a major sticking point.