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Crypto

U.S. CLARITY Act stalls for a month as Senate talks lag

Public debate on the U.S. crypto market structure bill known as the CLARITY Act has shown no progress for a month, narrowing the window for passage before elections. CoinDesk reported the bill is unlikely to be handled within April and that Congress has limited time left. The industry is pressing for a Senate Banking Committee markup hearing, but timing, unresolved issues including stablecoin yield, and other congressional priorities may push the bill down the agenda.

Crypto

U.S. banks face May 1 deadline to comment on OCC stablecoin rules

U.S. banks have until May 1 to submit views on the Office of the Comptroller of the Currency’s proposed rules tied to the GENIUS bill. The draft lays out reserve standards, custody rules, capital requirements and supervisory authority, and would require federal approval for issuers with more than $10 billion in stablecoins outstanding. Smaller issuers could operate under state frameworks certified by the Treasury, the Federal Reserve and the FDIC.

Crypto

U.S. CLARITY Act fails to advance in April, faces crossroads of passage or collapse

The U.S. Senate’s CLARITY Act, a digital asset market structure bill, is unlikely to move in April, but may retain momentum if a committee review is held in May. Senate officials and lobbyists see a July floor vote as key to maintaining a realistic chance of passage this year. Conflicts over stablecoin rewards, tight legislative schedules and political demands, including ethics provisions, continue to cloud prospects.