ChainCatcher report, according to The Block, amid ongoing controversy over stablecoin yields, U.S. House Republican leader French Hill has urged the Senate to directly adopt the House-passed CLARITY Act on cryptocurrency market structure to advance legislative progress. The bill, which passed the House last year with bipartisan support, does not address the current point of contention in the Senate—the issue of stablecoin yields. Hill stated that if the Senate cannot reach a clear conclusion, it should adopt the House version, which received support from 78 Democrats, as a solution. He also noted that the Treasury Department could intervene, as the OCC recently issued a proposal regarding the implementation of the GENIUS Act and opened it for public comment.
U.S. House Republican Urges Senate to Adopt CLARITY Act Amid Stablecoin Yield Debate
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Summary
U.S. House Republican French Hill has urged the Senate to adopt the House-passed CLARITY Act as debates over stablecoin yields continue. The bill, which passed last year with bipartisan support, does not include Senate provisions on yield-related issues. Hill suggested using the House version, backed by 78 Democrats, if Senate negotiations stall. The Treasury could intervene, as the OCC recently proposed the GENIUS Act and is seeking public comments. Altcoins to watch may react to regulatory clarity, with key support levels under close scrutiny by traders.
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