source avatarX Finance Bull

Share
Share IconShare IconShare IconShare IconShare IconShare IconCopy

🚨 LISTEN TO THIS CLARITY ACT UPDATE RIGHT NOW. This week could determine whether digital assets get their regulatory framework this month or wait until May. @EleanorTerrett just broke down exactly where things stand. The Senate Banking Committee has until Friday to notice a markup for the week of April 27. That's the window. If they miss it, the Senate goes on recess and the markup slides to the second week of May. HERE'S THE TENSION! A compromise on stablecoin yield was already reached between Senators Tillis and Alsobrooks. The crypto industry accepted it. But now banking trade groups are running a pressure campaign to reopen the deal. The North Carolina Bankers Association is urging member banks to flood Senator Tillis' office with calls. Other trade groups are reaching out to Banking Committee members beyond Tillis and Alsobrooks, trying to broaden opposition to the compromise text. White House Crypto Council Director Patrick Witt fired back directly. Called further bank lobbying on this issue motivated by "greed or ignorance." Told them to "move on."A source familiar with the compromise put it bluntly: banks can "take the win and limit deposit flight" or "seize defeat from the jaws of victory and be left with the status quo." Senator Tillis himself said he's "optimistic" about scheduling a markup "in the coming weeks." He also floated a "crypto palooza," bringing bank and crypto experts together with senators in person to settle remaining issues. Beyond yield, ethics provisions and DeFi language still need final resolution. Tuesday will be consumed by Kevin Warsh's Fed Chair nomination hearing before the same Banking Committee. That leaves Wednesday through Friday to advance CLARITY Act negotiations. The bill that gives every digital asset permanent legal clarity is days away from either moving forward or getting delayed again. The banking lobby is making its last stand. The White House is pushing back harder than ever. This week matters. Watch it closely.

No.0 picture
No.1 picture
No.2 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.