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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.

Crypto

U.S. senator urges delay of CLARITY Act until May as bank-crypto split persists

A U.S. Senate Banking Committee review of the crypto market structure CLARITY Act is increasingly likely to slip beyond April. Punchbowl News, cited by Cointelegraph, reported that Republican Senator Thom Tillis urged Chairman Tim Scott to move the bill’s markup to May. The key dispute is a stablecoin interest provision, with banks warning of deposit outflows and the crypto industry seeking more flexible rules. A lobbying group urged swift action.

Crypto

Coinbase CLO says lawmakers cannot back CLARITY and oppose stablecoin rewards

Coinbase has publicly pressed the U.S. Congress to clarify whether stablecoin rewards will be allowed. Paul Grewal, Coinbase’s chief legal officer, said lawmakers who support the CLARITY Act should also oppose proposals to ban stablecoin rewards. The dispute centres on a Senate compromise that would bar passive yield on stablecoin balances while permitting limited activity-based rewards. Grewal said deposit-flight claims are theoretical, and a White House report estimated a minimal lending impact.