TechFlow News, February 19: U.S. Senator Bernie Moreno, a supporter of cryptocurrency, stated that the long-anticipated CLARITY Act—aimed at establishing a clearer regulatory framework for the U.S. crypto industry—is expected to pass before April.
Coinbase CEO Brian Armstrong joined Moreno in an interview, explaining that they are participating in the World Liberty Finance (WLF) Crypto Forum alongside representatives from the crypto industry, banking sector, and the U.S. Congress to develop solutions to market structure issues.
“One major issue that has arisen in the past concerns interest-bearing stablecoins,” Armstrong said. The banking industry previously worried that offering yields on stablecoins could undermine traditional banking, causing deposits and interest income to flow out of banks. Although Armstrong had raised objections to the draft and withdrew his support for the CLARITY Act in January, he now says, “We have a path forward, and we can achieve a three-way win here: a win for the crypto industry, a win for banks, and a win for U.S. consumers—enabling President Trump’s crypto agenda to be fully realized and positioning the United States as the world’s crypto capital.”
