Over 100 Bank Executives Urge Senate To Tighten Stablecoin Yield Ban In CLARITY Act Ahead Of August Vote
More than 100 bank executives warned Senate leaders that lenders could lose hundreds of billions of dollars in deposits to stablecoin products unless the CLARITY Act includes a stronger prohibition on yield tied to stablecoins.
The banking industry push coincides with growing legislative momentum for the crypto bill, which lawmakers aim to bring to a floor vote before the Senate's Aug. 7 summer recess. Bloomberg reported that up to 10 Democrats are ready to back the framework, while SEC leadership pledged technical assistance to finalize the rules.
From the sources (25 posts)
@cointelegraph🇺🇸 TODAY: Senator Cynthia Lummis says the Clarity Act would close the gaps that groups like North Korea's Lazarus exploit. It gives the Treasury new powers to freeze suspicious transactions before funds move.
@coindeskUPDATE: A new CLARITY Act draft has been released, merging the Senate Banking and Agriculture Committee versions and adding an ethics provision for the first time. A motion to proceed is expected Monday or Tuesday, with a possible floor vo
@cryptoroverThe next 11 days could become some of the most important in crypto history. The Senate has until August 7 to pass the CLARITY Act before leaving for recess. If it misses this window, regulatory clarity could be delayed until after the mid
@cryptorover$BTC: crash incoming...? The last time the CLARITY Act was delayed, Bitcoin crashed from $97,000 to $64,000. If the bill does not pass by August 7, it could be pushed beyond the summer recess. I’m watching whether the same pattern repeat
@toly🇺🇸🇺🇸🇺🇸
@bitcoinmagazineJUST IN: 🇺🇸 Punchbowl News Senior Reporter Brendan Pedersen reports they "still expect an initial vote before August 7" for the Clarity Act 👀
@selkis_2028RT @CoinDesk: UPDATE: A new CLARITY Act draft has been released, merging the Senate Banking and Agriculture Committee versions and adding a…
@selkis_2028RT @BrendanPedersen: I wrote about the Senate floor math that will keep the Clarity Act from passing before recess. We’re past the point it…
@milesjenningsIt's decision time for Democrats: Support CLARITY or support the status quo. Regulate crypto or leave it unregulated. Advance innovation or promote grift. Protect people or play politics.
@iampaulgrewalDefinitely making a list. Definitely checking it twice. And definitely gonna be distinguishing naughty from nice.
@milesjenningsRT @PaulCaf: We got @BlackRock now coming out in support of CLARITY via @politico & @samjsutton
@bitcoinnewsJUST IN: 🇺🇸 Stand With Crypto announces it will score every senator's CLARITY Act vote on public lawmaker scorecards, giving 3 million U.S. advocates a permanent record ahead of November midterms. Read the full story 👉
@eleanorterrett🚨🗞️NEW: Senate Prepares for Clarity Floor Push as GOP Seeks Democratic Support The crypto industry is hoping Senate Republicans can get the ball rolling this week on a floor vote for the Clarity Act. What would that look like? Read on. ht
@milesjenningsRT @standwithcrypto: On behalf of 3 million U.S advocates, @standwithcrypto is providing notice that we will be scoring votes on the CLARI…
@bitcoinmagazineNEW: 🇺🇸 Sen. Dave McCormic on CLARITY ACT "The time for delay is over." "Bring the CLARITY Act to the Senate Floor for a vote and let every senator go on the record." 👀
@gskrovinaRT @PaulCaf: We got @BlackRock now coming out in support of CLARITY via @politico & @samjsutton
@bitcoinnewsJUST IN: 🇺🇸 "The time for delay is over," says Sen. Dave McCormick, calling for the CLARITY Act to be brought to the Senate floor for a vote. McCormick adds, we need to "move forward and get a vote on the CLARITY act... we need to get this
@bitcoinmagazineJUST IN: 🇺🇸 Coinbase Chief Policy Officer talks CLARITY ACT on FOX "This bill is an extraordinarily bipartisan piece of work. It's ready for final action. We're very excited it's going to get done...I think we'll have a vote as early as Mo
@cryptoroverBREAKING: 🇺🇸 $14T BlackRock officially backs the Clarity Act. Earlier, BlackRock warned that Asian countries will try to get ahead of the U.S. in crypto by passing their own versions of the CLARITY Act. PASS IT NOW!
@bitcoinnewsJUST IN: 📜 "I think we'll have a vote as early as Monday of next week," says Coinbase's Faryar Shirzad on the CLARITY Act. 🎙️Shirzad emphasizes the bill's importance for regulatory certainty and U.S. leadership in financial technology, add
@coinmarketcapLATEST: 🇺🇸 Senator Cynthia Lummis says the CLARITY Act would give Treasury new sanctions tools to close gaps North Korea's Lazarus Group has exploited to steal crypto.
@kalshi_cryptoJUST IN: Coinbase expects Clarity Act vote as early as next Monday 40% chance it passes this year
@theblockcoTHE BLOCK: NY AG Letitia James urges Congress to strengthen the Clarity Act, warning it would undermine states' abilities to go after bad actors. In written testimony submitted to a Senate committee, James called for tougher safeguards, in
@cointelegraph🇺🇸 TODAY: New York AG Letitia James warns the CLARITY Act could gut state crypto enforcement, urging Congress to add stronger consumer protections instead.
@laurashinRT @laurashin: Crypto is betting it can push the Clarity Act through the Senate before the Aug. 7 recess. @KristinSmith of the Solana Poli…