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Crypto

Stablecoin regulation debate heats up as Coinbase publicly backs U.S. CLARITY Act

Coinbase executives rejected concerns that privately issued, payment-focused stablecoins could increase systemic risk for the U.S. economy, while publicly backing the CLARITY Act, a bill aimed at clarifying digital asset markets. They said stablecoin oversight should not be framed as public versus private and argued the key issues are risk management, access and supervision. Coinbase also said stablecoin rules under the GENIUS Act differ from bank regulation and require fully backed reserves.

Crypto

U.S. Senate passes crypto market structure bill but long road to enactment

The U.S. Senate Banking Committee has approved the crypto market structure bill known as the Clarity Act, drawing a positive response from the digital asset industry, though analysts say final enactment remains uncertain. TD Cowen raised its estimated odds of passage to 40 percent, citing signs of Democratic backing. The bill passed 15-9 with two Democrats in support. Analysts say it must be merged with a parallel package and clear a 60-vote threshold.

Crypto

U.S. CLARITY crypto market structure bill nears Senate vote; White House targets July 4 enactment

The White House has set July 4 as its target date for enacting the CLARITY bill, a U.S. crypto market structure measure. CoinPost reported the Senate Banking Committee could begin voting steps as soon as next week. A compromise on stablecoin yield provisions has advanced, though banking groups oppose it. Lawmakers are now focused on ethics provisions, with Democrats warning support depends on them, as negotiations continue ahead of the deadline.