Senate leader says Clarity Act unlikely to advance before April: report

U.S. Senate Majority Leader John Thune has suggested that the Clarity Act, a bill aimed at establishing a comprehensive regulatory framework for digital assets, is unlikely to advance through the Senate Banking Committee before April. This delay is attributed to the need for more time to resolve outstanding issues within the legislation. The House of Representatives has already made progress on the bill, but Senate discussions are ongoing. Alongside this, the Senate passed a housing bill prohibiting a CBDC and is prioritizing the SAVE America Act. Debate surrounding the Clarity Act includes disagreements over yield offerings on stablecoins, with banks expressing concerns about potential deposit outflows, while the White House suggests compliant stablecoins could attract capital. Despite the uncertain timeline, analysts at JPMorgan view the potential passage of the Clarity Act as a positive catalyst for the crypto industry, potentially unlocking institutional investment.

(Source：The Block)