- White House officials met with crypto and banking reps to resolve differences on the CLARITY Act, focusing on stablecoin yield provisions.
- Ohio Senator Bernie Moreno predicted the key market structure bill could be signed into law “by April.”
- A key Senate committee delayed its markup of the legislation after Coinbase CEO Brian Armstrong raised objections over tokenized equities and regulatory authority.
The White House convened another meeting on Thursday, bringing together representatives from the cryptocurrency and banking industries to negotiate differences on a pivotal market structure bill. According to Ripple CEO Brad Garlinghouse in a YouTube interview, the company’s chief legal officer attended the session aimed at resolving issues like stablecoin yields. This followed unconfirmed reports of a similar meeting on Feb. 10 that failed to produce a stablecoin deal.
Passed by the US House in July, the CLARITY Act has faced prolonged delays in the Senate due to government shutdowns and policy debates. However, momentum may be building as key stakeholders gather; a forum at Mar-a-Lago the day prior featured industry figures and policymakers, including CFTC Chair Michael Selig. Consequently, Senator Bernie Moreno stated he expects the bill to pass Congress and be ready for signature “by April.”
Meanwhile, the Senate Banking Committee has indefinitely postponed its critical markup of the legislation. This delay came directly after Coinbase CEO Brian Armstrong said the exchange could not support the bill as written, citing concerns about tokenized equities and stablecoin rewards. Consequently, the path forward remains uncertain as stakeholders continue to seek common ground on the complex regulatory framework.
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