"The Senate Banking Committee postponed its planned markup of the Digital Asset Market CLARITY Act, capping what had been expected to be a pivotal week for U.S. crypto policy with an anticlimactic halt amid growing industry opposition and unresolved political disputes, according to reporting from Crypto in America. The decision came after tensions escalated throughout the week as crypto companies and trade groups voiced frustration over late-stage amendments to the 278-page market structure bill."
"Coinbase had been one of the most influential industry backers of a comprehensive market structure framework, investing heavily in lobbying efforts on Capitol Hill. "We appreciate all the hard work by members of the Senate to reach a bipartisan outcome, but this version would be materially worse than the current status quo," Armstrong wrote in a post on X. "We'd rather have no bill than a bad bill.""
The Senate Banking Committee postponed a planned markup of the Digital Asset Market CLARITY Act after growing industry opposition and political disputes. Late-stage amendments to the 278-page bill prompted frustration from crypto companies and trade groups, which argued the changes favored banks and tightened limits on stablecoin rewards and tokenization. Democrats pushed for stronger ethics provisions to bar senior officials, including the president, from personally profiting from crypto, and those provisions stalled in talks with the White House. Coinbase withdrew support, calling the bill materially worse than the status quo and preferring no bill to a bad bill. That withdrawal triggered the immediate postponement of the markup.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]