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Galaxy Digital CEO says U.S. CLARITY Act likely to pass by June

U.S. cryptocurrency regulation bill CLARITY could become law as early as June, Galaxy Digital CEO Mike Novogratz said. He said the bill may be finalized in May and move to a signing stage in June. The measure sets standards for digital assets, creating a national regulatory framework and dividing oversight by classifying some assets as securities and others as commodities. The process has slowed in the Senate amid stablecoin provisions and bank concerns.

Crypto

Five obstacles to U.S. CLARITY bill, from Trump controversy to stablecoin interest

The U.S. Congress’ cryptocurrency bill known as the CLARITY Act faces at least five hurdles beyond the question of interest on stablecoins, an analysis said. TD Cowen pointed to vacancies at the CFTC, efforts to fold prediction markets into the bill, controversy over a Trump family-linked crypto project, pressure to tighten AML and Bank Secrecy Act provisions, and the possible attachment of a credit card competition bill. Stablecoin interest remains unresolved.

Crypto

Galaxy research says 9,306 bitcoin still held in 518 U.S.-sanctioned addresses

Bitcoin addresses placed under U.S. Treasury sanctions still hold 9,306 bitcoin, according to compiled data on 518 addresses listed by the Office of Foreign Assets Control. The addresses have received a total of 249,814 bitcoin and sent out 239,708 bitcoin, leaving the remaining balance valued at about $707 million. The data highlight that some assets can remain on-chain even when sanctioned, despite restrictions on transactions by U.S. financial institutions and crypto exchanges.