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Crypto Journalist: CLARITY Act Still Likely to Progress if Agreement Reached on Yield
Summary: Following the cancellation of the hearing on the 'CLARITY Act' in the U.S. Senate Banking Committee, industry participants, legislators, and committee staff have had time to digest yesterday's events and the possible next steps. Many are still angry about how yesterday was handled. Consensus among some industry insiders and committee staff is that all hope ...
Following the cancellation of the hearing on the 'CLARITY Act' in the U.S. Senate Banking Committee, industry participants, legislators, and committee staff have had time to digest yesterday's events and the possible next steps. Many are still angry about how yesterday was handled. Consensus among some industry insiders and committee staff is that all hope is not lost. If various parties (banks, Coinbase, and Democratic lawmakers) can reach an agreement on yield in the coming days, the bill is likely to continue progressing. Regarding the issue of tokenized securities, involving research by the SEC and CFTC and potential notice and comment procedures, two reasons indicate this is no longer a major concern. First, tokenized companies now say that the provisions Coinbase is concerned about have been taken out of context. Second, some stakeholders, including Brian Armstrong, express hope for significant changes or complete removal of the provisions.
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Link: Crypto Journalist: CLARITY Act Still Likely to Progress if Agreement Reached on Yield [Copy]
