CLARITY Act Faces 100+ Amendments Amid Banking Pressure
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The Senate Banking Committee's crypto market structure bill, the CLARITY Act, is heading into markup with over 100 proposed amendments, turning a long-delayed vote into a critical test for a fragile stablecoin compromise. The amendments, coupled with 8,000 demand letters from bankers opposing stablecoin rewards, highlight intense lobbying from banks, Democrats, and crypto industry groups. This legislative gridlock underscores the deep divisions in regulatory approaches, with potential implications for stablecoin innovation and market stability. The outcome will likely set the tone for future crypto regulation in the U.S., making it a pivotal moment for the industry.
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