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Crypto

U.S. Senate banking chair says CLARITY bill could face vote before August recess

Tim Scott, chair of the U.S. Senate Banking Committee, said the CLARITY bill could be brought to a Senate vote before the August recess. He said the Senate should hold an initial vote before entering its next work period this week. Scott said Senate Republican leader John Thune could announce a schedule for a final vote in coming days. Democrats and banks have raised issues that still require coordination.

Crypto

U.S. Senate Republicans unveil Clarity Act revision banning federal officials from issuing tokens

U.S. Senate Republicans unveiled a revision to the digital asset market structure bill known as the Clarity Act that includes an ethics provision banning the president and all federal officials from issuing or sponsoring tokens until 2029. The draft also restricts crypto platforms from listing assets issued or backed by federal officials. Enforcement would be handled by the Justice Department. The bill’s Senate prospects remain uncertain and would require some Democratic support.

Crypto

OpenUSD aims to reshape stablecoin revenue model, compete head-on with USDC

OpenStandard has unveiled OpenUSD, a stablecoin that shares reserve income with distribution and payment partners rather than paying returns directly to holders. The project is positioned as a shared infrastructure with more than 140 named partners, including Visa, Stripe and Coinbase. Key disclosures such as supply, redemption history and reserve details have not been released, with launch expected in late 2026. The model comes as U.S. policymakers debate restricting yield on payment stablecoin balances.