Market Insights

The U.S. Senate has released an updated version of the CLARITY Act, with the Senate Banking Committee set for a critical vote today. A compromise has been reached on the major stablecoin yield dispute: issuers are prohibited from paying interest solely for holding stablecoins, but user incentives tied to related activities are permitted. If approved, the bill is expected to advance to Senate debate and voting in June, with the White House targeting July 4 for final signing. This vote marks the final sprint for the first comprehensive U.S. crypto market structure legislation. If enacted, it would establish a clearer regulatory framework for the crypto market and provide stronger institutional capital entry standards.