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Crypto

U.S. Senate vote on CLARITY Act delayed to September

A U.S. Senate floor vote on the CLARITY Act, a cryptocurrency market structure bill, has been pushed back to September after Republican leaders failed to secure enough Democratic support before the August recess. Senate Republican leader John Thune said negotiations are continuing but there is not yet sufficient bipartisan agreement to proceed. The bill aims to clarify oversight and market structure for digital assets, including regulatory boundaries between the SEC and CFTC.

Crypto

U.S. Senate push for Clarity Act draws backing from majority whip, faces Democratic and bank-sector resistance

Calls are growing in the U.S. Senate to take up the Clarity Act, which would set a regulatory framework for digital assets, but a vote is becoming less certain ahead of a five-week recess. Senate Majority Whip John Barrasso urged passage, citing last year’s GENIUS Act. Democrats and banking lobby groups have raised objections, including ethics provisions and stablecoin yield payments, while the White House reviews amendments.

Crypto

U.S. banks face pressure to curb stablecoin returns; a16z says it could backfire

Opposition by U.S. banks to the CLARITY bill could weaken their own position, a16z crypto policy head and general counsel Miles Jennings said. He argued that the GENIUS Act is already in force and has accelerated on-chain dollar movement, with other real-world assets likely to follow regardless of CLARITY. If CLARITY fails, he said, stablecoin deposit yield structures banks oppose would remain. Banking groups have urged stricter bans on interest-like rewards for holding stablecoins.