| Mobile Web

Search results for U.S. Senate

Crypto

U.S. community banks launch campaign against Clarity bill over stablecoin rewards

The U.S. community banking industry has launched a public campaign against the Clarity bill, a crypto market-structure measure under discussion in the Senate. The Independent Community Bankers of America said allowing yields or rewards on stablecoin holdings could trigger $1.3 trillion in deposit outflows and cut loans by $850 billion. The Senate Banking Committee advanced the bill on May 15. Crypto industry groups rejected ICBA’s claims, while passage remains uncertain.

Crypto

U.S. CLARITY bill keeps clashing over crypto ethics, momentum cools rapidly

The U.S. Senate’s CLARITY crypto market structure bill is losing momentum amid a partisan fight over how to enforce ethics provisions. A key dispute is whether state attorneys general should be able to sue the Justice Department if the federal government fails to enforce crypto ethics rules. Some Republicans and the White House have stepped back from earlier enforcement proposals, while Democratic senators who backed the bill in committee are not promising support on the Senate floor.

Crypto

Pressure builds for Clarity Act Senate vote, but prediction markets see August deadline unlikely

The cryptocurrency industry has stepped up public pressure on the U.S. Senate to move the Clarity Act to a floor vote. More than 200 companies and groups urged Senate leaders to act without delay, arguing that a lack of federal rules pushes activity overseas. Opponents have also mobilised, citing weaknesses in anti-money laundering provisions, ethics rules and stablecoin-related gaps. Prediction markets and some institutional forecasts have lowered estimates for passage before August.