A quietly submitted amendment reveals that divisions within the U.S. Congress over the CLARITY Act run deeper than previously apparent. The amendment, introduced by Republican Senator Jerry Moran of Kansas, aims to further tighten restrictions on stablecoin yields.
The amendment focuses on stablecoin yields.
This direction has been supported by banking advocates but firmly opposed by the crypto industry. Reports indicate that this amendment is not a fringe effort, but has garnered support from over a dozen lawmakers.
- More than 12 signatories
- 其中包括7名共和党参议员。
- Signatories include Susan Collins and Cindy Hyde-Smith.
The Republican Party is not unified.
This means that restrictive provisions backed by the banking industry have already garnered some support within the Republican Party. For supporters who had hoped to advance the bill, this is not a minor signal.
On the surface, the CLARITY Act failed to advance last week, with external attention focused largely on the vote outcome. However, this amendment reveals that the bill’s stagnation stems not only from procedural issues but also from genuine internal disagreements within the Republican Party over key provisions.
Pressure on the 60-vote threshold is increasing
In particular, regarding stablecoin yield issues, the banking and cryptocurrency industries hold clearly opposing positions: the former seeks to limit the impact of stablecoin products on traditional deposit and payment services, while the latter opposes further restrictions on the design space for stablecoin products.
Such disagreements will directly impact the bill's further progress. For the CLARITY Act to move forward, it still needs to secure 60 votes. With even Republicans not fully united, the cost of coordinating the bill has increased further.