Summary
- Discussions in the US Congress on the digital asset (cryptocurrency) market structure bill (the CLARITY Act) are expected to resume later this month.
- Banks say providing interest or similar compensation should be prohibited on stablecoin deposit balances.
- The industry says allowing returns in the form of rewards or staking, along with stablecoin rules and the delineation of market jurisdiction, will be key issues for the bill’s passage.
Forecast Trend Report by Period
Eleanor Terrett, host of Crypto in America, said on the 2nd (local time) via her X (formerly Twitter) that discussions in the US Congress on a digital asset (cryptocurrency) market structure bill—the CLARITY Act—are expected to resume later this month.
Although the White House’s proposed deadline for reaching an agreement on stablecoin rewards (March 1) has passed, negotiations between banks and the industry are still ongoing. Banks argue that providing interest or similar compensation on stablecoin deposit balances should be prohibited, while the industry is pushing back, saying returns in the form of rewards or staking should be allowed.
The Senate Banking Committee is reportedly planning to restart its review of the bill as early as mid-March.
Markets are watching stablecoin rules and the delineation of market jurisdiction as key issues for the bill’s passage.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
