US crypto legislation review withdrawn as industry and lawmakers continue working to reach consensus
7x24h News
US crypto legislation review withdrawn as industry and lawmakers continue working to reach consensus
According to reporter Eleanor Terrett, nearly 24 hours after the U.S. Senate Banking Committee (Banking GOP) withdrew consideration of the Clarity Act, industry insiders and lawmakers are actively seeking solutions. The main point of contention centers on stablecoin yields; if banks, Coinbase, and Democrats can reach an agreement in the coming days, the bill could be "resurrected." Section 505, concerning tokenized securities, is also controversial, but Coinbase CEO Brian Armstrong expressed hope that the provision could be substantially revised or entirely removed.
Navigating Web3 tides with focused insightsTechFlow reported on January 16 that, nearly 24 hours after the Senate Banking Committee (Banking GOP) withdrew its consideration of the CLEAR Act, industry insiders and lawmakers are actively seeking solutions. The main point of contention centers on stablecoin yield. If banks, Coinbase, and Democrats can reach an agreement in the coming days, the bill could be revived. There is also controversy surrounding Section 505 regarding tokenized securities, but Coinbase CEO Brian Armstrong expressed hope that the provision could be substantially revised or entirely removed.
