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The Senate Banking Committee debates over 100 amendments before deciding whether to advance the 309-page Digital Asset Market CLARITY Act to the full Senate floor.
A bipartisan deal banning passive yield on stablecoins led to renewed support for the CLARITY Act.
KEY POINTS
- Senator John Kennedy's vote is pivotal for advancing the CLARITY Act markup in committee.
- The CLARITY Act formally defines SEC and CFTC jurisdiction over digital assets in statutory law.
- Enforceable crypto regulations will not arrive before late 2027 to 2028 due to rulemaking delays.
- American Bankers Association sent over 8,000 letters opposing the bill's stablecoin compromise.
COMPANIES
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