CLARITY Act Faces Wave of Amendments Ahead of Markup
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The Senate Banking Committee's CLARITY Act faces heavy opposition ahead of Thursday's markup, with Senator Elizabeth Warren filing more than 40 amendments and American Bankers Association members sending over 8,000 letters in under a week. The pressure focuses on the bill's stablecoin yield rules and signals regulatory risk for crypto, stablecoins, DeFi and CEXs that could delay reforms or tighten yield restrictions.
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The Senate Banking Committee’s CLARITY Act is heading into Thursday’s markup, buried under opposition.
According to reports, Senator Elizabeth Warren alone filed more than 40 amendments before Tuesday’s 5 p.m. ET deadline, and American Bankers Association members sent over 8,000 letters to Senate offices in less than a week demanding changes to the bill’s stablecoin yield rules.
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