Senate Crypto Bill Faces Over 100 Amendments Ahead of Thursday Markup

The Digital Asset Market Clarity Act is facing over 100 proposed amendments from Senate Banking Committee members ahead of a crucial markup session scheduled for Thursday. This bill, which aims to clarify regulatory jurisdiction between the SEC and CFTC for digital assets, has seen significant debate, particularly concerning stablecoin yield products. While supporters hope for a final vote, the large number of amendments, with Senator Elizabeth Warren submitting over 40, indicates strong resistance, mirroring a previous markup session that was canceled due to a high volume of filings. Key disputes include how the bill defines and regulates stablecoin issuers offering interest or yield, with banking groups arguing for stricter rules to prevent them from mimicking high-yield savings accounts without equivalent regulation. The bill also includes ethics provisions, such as prohibiting government officials and their families from owning or promoting crypto businesses, which some Republican sponsors believe could jeopardize the bill's bipartisan support. The CLARITY Act previously passed the House and has a projected 60% chance of becoming law in 2026, with a July 4th target for presidential signature.

(Source：Bitcoin Magazine)