Senate Banking Committee schedules markup for crypto legislation on May 14
Crypto Briefing
The Senate Banking Committee will mark up the CLARITY Act on May 14, following a key compromise on stablecoin yield provisions.Summary
The Senate Banking Committee has set a May 14 markup for the Digital Asset Market Clarity Act, also known as the CLARITY Act. This legislation aims to define jurisdictional boundaries between the SEC and the CFTC regarding digital assets. Negotiations were recently unblocked after Senators Thom Tillis and Angela Alsobrooks reached a compromise concerning stablecoin yield, a major point of contention. While the bill aims for passage before an August deadline, it faces internal debate over the inclusion of ethics provisions for federal officials, which some Republican members fear could delay progress.
(Source：Crypto Briefing)