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Eleanor Terrett: CLARITY Act Still Likely to Progress if Parties Reach Yield Agreement
Summary: Following the cancellation of the CLARITY Act hearing in the U.S. Senate, industry participants, lawmakers, and staff are assessing the next steps, according to crypto journalist Eleanor Terrett on X platform. Some industry insiders and Banking Committee staff believe that if parties (banks, Coinbase, and Democrats) can reach an agreement on yields in the coming ...
Following the cancellation of the CLARITY Act hearing in the U.S. Senate, industry participants, lawmakers, and staff are assessing the next steps, according to crypto journalist Eleanor Terrett on X platform. Some industry insiders and Banking Committee staff believe that if parties (banks, Coinbase, and Democrats) can reach an agreement on yields in the coming days, the bill still has a chance to move forward.
Regarding tokenized securities (Section 505), it seems to no longer be a major obstacle as tokenized companies believe Coinbase's objections are taken out of context, and stakeholders including Coinbase CEO Brian Armstrong hope for significant changes or complete removal of the provision. Discussions between the White House and the Senate are ongoing. Regarding whether the Banking Committee's postponed meeting will affect the Agriculture Committee's schedule, sources indicate that the order is not crucial, and if the Agriculture Committee can reach a bipartisan agreement, it may facilitate the Senate Banking Committee's process. Previously, the House Agriculture Committee passed parts of the Clarity Act with a bipartisan vote of 47 to 6, providing support for the House Financial Services Committee thereafter.
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Link: Eleanor Terrett: CLARITY Act Still Likely to Progress if Parties Reach Yield Agreement [Copy]
