Though there’s no new sign of progress on the U.S. Senate’s Digital Asset Market Clarity Act, the crypto industry’s Blockchain Association held an online event Thursday with involved lawmakers continuing to make the case for support — especially in the law enforcement community — as the bill’s advocates contend with a narrow Senate window. Throughout […]
JPMorgan Chase CEO Jamie Dimon on Friday yet again sharply criticized Coinbase CEO Brian Armstrong and warned that the latest version of the Clarity Act could ultimately fail if lawmakers do not address concerns from traditional banks over stablecoin regulation. In an interview with Maria Bartiromo on Fox Business, Dimon appeared frustrated by the direction […]
Crypto-related stocks rallied Monday, led by Circle (CRCL) and Coinbase (COIN), as progress on U.S. digital asset legislation and bitcoin BTC$79,707.35 breaking above $80,000 lifted sentiment across the sector. Circle, issuer of the USDC stablecoin, surged 18%, extending recent gains, while U.S.-focused crypto exchange Coinbase rose about 7%. BitGo (BTGO), a digital asset infrastructure firm […]
Crypto trade groups called for a markup of key market structure legislation within hours of U.S. Senators Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.) releasing a compromise text Friday on stablecoin yield in the Digital Asset Market Clarity Act, the final major sticking point in the bill. The text bars crypto firms from paying interest […]
Stablecoin yield would be prohibited under a newly released agreement addressing that contentious part of the crypto market structure legislation in an approach that’s broadly similar to what’s been discussed since the start of the year. The new section of proposed Digital Asset Market Clarity Act text released Friday revealed that the compromise hashed out […]
The crypto market structure bill has not made much public movement in a month. While making a prognosis on the bill is difficult, it’s not hard to see that the clock for passage is running out. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to […]
April appears to be a lost cause for the crypto Clarity Act, but a U.S. Senate committee hearing sometime in May could keep the critical market structure legislation alive, as long as it can reach a final vote of the overall Senate by July, according to lobbyists and a lawmaker aide focusing on the market […]
Crypto industry insiders got their first look at the revised market structure bill in the Senate, and the opening impression was that the language on allowable stablecoin yield was overly narrow and unclear, according to a person familiar with the current draft. The new language, which was announced Friday by Senators Angela Alsobrooks and Thom […]
The negotiation to get a crypto market structure bill through its next stages in the Senate have hovered over an almost-there status for weeks, and Republican lawmakers met on Thursday to figure out how to bridge the final gaps. The White House was expected to get some updated legislative language on Thursday, reflecting the ongoing […]
Ripple CEO Brad Garlinghouse said he now sees a 90% chance that the long-debated Clarity Act will pass by the end of April, signaling growing confidence inside the crypto industry that U.S. lawmakers may finally deliver long-sought regulatory certainty. Speaking on Fox Business, Garlinghouse said momentum has accelerated following renewed engagement from lawmakers and the […]