CLARITY Bill May Still Move Forward If Yield Terms Are Agreed Upon

According to a ChainCatcher report, crypto journalist Eleanor Terrett posted that, "The U.S. Senate Banking Committee has canceled the revised hearing for the CLARITY Act. Industry participants, legislators, and committee staff now have time to digest what happened yesterday and consider possible next steps. However, many remain 'angry' about how yesterday's events were handled." Industry insiders and Senate Banking Committee staff contacted by the report share a consensus: the situation is not yet completely hopeless. If key stakeholders (i.e., banks, Coinbase, and Democratic lawmakers) can reach an agreement on yield-related provisions in the coming days, the bill is "likely" to continue moving forward. Regarding the issue of tokenized securities, which involves research by the SEC and CFTC and potential notice-and-comment rulemaking, two reasons indicate it is no longer a major obstacle. First, tokenized companies now say that the provisions Coinbase was concerned about were taken out of context. Second, some stakeholders, including Brian Armstrong, have expressed hope that the provisions could be significantly revised or even removed entirely.