Senate Banking Committee votes on Clarity Act, favoring Bitcoin and Coinbase staking

The Senate Banking Committee is reviewing the 309-page Digital Asset Market Clarity Act, a landmark bill intended to establish a regulatory framework for digital assets in the US. A key component of the bill is Section 404, which regulates stablecoin interest but creates a specific exemption for "activity-based rewards," a move that supports companies like Coinbase and their staking operations. The legislation has drawn opposition from major banking trade groups, who fear competitive disadvantages, and from progressive Democrats, led by Sen. Elizabeth Warren, who are demanding stronger ethics provisions. As the May 14 markup approaches, the bill faces an uncertain future as lawmakers negotiate amendments that could significantly alter the balance between industry needs and regulatory oversight.

(Source：Crypto Briefing)