CLARITY Act, In its current form it has been largely deemed acceptable by the crypto industry, but changes will certainly be introduced, some of which could undermine digital asset innovation. While the crypto industry is losing the battle over passive returns for stablecoin holders, which would be great for consumers but not likely to be the case for banks looking to protect their profits, the stablecoin “reward” consensus looks set to continue. Senate Banking Committee Today at 10:30 a.m., Dirksen will consider the remuneration hearing in the Senate Office Building HR.3633, Digital Asset Market Clarity Act of 2025.
Blockchain Association distributed letter He told the committee that the legislation was a defining moment for American leadership. Thanking the Committee for its work on the bill, Birlik stated that the risk is great:
“This is a defining moment for American leadership. Digital asset markets are global, growing, and increasingly central to the future of financial markets. The question before Congress is not whether this technology will continue to evolve, but whether it will be built in the United States with American rules and American values.” GENIUS Act The past year has shown what clear rules can do: attract investment, encourage institutional and retail participation, and bring digital asset innovation back onshore. The Openness Act offers Congress an opportunity to extend the same principle to the broader digital asset market by creating clear oversight, strongly protecting consumers, and giving responsible innovators the regulatory certainty they need to create, hire, and scale in the United States.
Peter Van ValkenburgExecutive Director Money Centersent a letter Addressing the Banking Committee yesterday (May 13), Seante voiced support for the bill in its current form, highlighting the Blockchain Regulatory Certainty Act (BRCA), section 604, which provides clarity for developers and infrastructure providers and limited liability for certain applications that will not be “improperly regulated” as money transmitters.
In a separate post, Van Valkenburg was concerned about a move by the Senator Cortez Masto Eliminating the BRCA language and calling it an “with it or against us moment.”
Scott Melker (The Wolf of Wall Street) noted o Senator Elizabeth WarrenAnti-innovation and anti-consumer, vocal opponent of the CLARITY Act, filed More than 40 changes to the bill in 24 hours. One respondent described this as “Distributed denial of service (DDoS) attack on CLARITY ActBy Senator Warren.
Well-known VC Marc Andreessen in question It was time to pass the CLARITY Act to “guarantee U.S. technology dominance for decades to come.” Andreessen is spot on: The United States is poised to define a global regulatory approach, and other countries and jurisdictions will follow America’s lead in enabling digital asset innovation.
Meanwhile, the banking industry and its allies are trying to kill the bill at the last minute, hoping that a last-ditch vote in the Senate could sabotage the crypto industry’s future if they can’t stop the bill in the Senate or amend it to make it unusable.
Today, Senator Cynthia Lummis Speaking to CNBC, he noted that banks have publicly opposed the bill, but many are working behind the scenes to benefit from the emerging crypto ecosystem; As digital assets become the norm, they are looking for more time to take advantage.
