PiCK
US Senator Says CLARITY Act Could Pass by End of May, Calls Bank Pushback Overblown
Summary
- Senator Bernie Moreno said the US digital-asset market structure bill, the CLARITY Act, could pass by the end of May.
- He said most of the banking sector's opposition to stablecoin yield is overstated and stressed that banks also need to innovate.
- Moreno had previously said that if the CLARITY Act does not pass in May, related legislation could become difficult to advance for a considerable period.
Forecast Trend Report by Period
The CLARITY Act, a US digital-asset market structure bill, could pass by the end of May, according to comments from Senator Bernie Moreno.
Eleanor Terrett, host of Crypto In America, said on April 22 that the Republican senator told an event in Washington that he believes the bill can be approved by the end of May.
Moreno also pushed back on banks' opposition to stablecoin yield. "There's a lot of noise in the market, but most of it is fake," he said. He added that banks also need to innovate.
He did not comment separately on whether the Senate Banking Committee's markup on revisions to the bill and a vote on it could be pushed back to May.
Moreno had previously said that if the CLARITY Act does not pass in May, related legislation could become difficult to advance for a considerable period.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
![[Today’s Key Economic and Crypto Events] U.S. Initial Jobless Claims, South Korea First-Quarter GDP Due April 23](https://media.bloomingbit.io/static/news/brief.webp?w=250)
