The Clarity Act vote got scrapped today right after coinbase's CEO basically admitted they won't back it, because it bans stablecoin yields (goodbye competition for banks).
Looks like big banks are finally scared of losing their monopoly and pulled every string to keep crypto on a leash.
https://dailycryptobriefs.com/news/us-senate-clarity-act-vote-canceled-hr-3633/
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tldr; The U.S. Senate Banking Committee postponed its scheduled January 15, 2026, markup vote on the CLARITY Act (H.R. 3633), a bill aimed at establishing a regulatory framework for the crypto market. The markup session, which involves debating amendments and deciding whether to advance the bill, was delayed without a specified reason or a new date. The CLARITY Act seeks to define token classifications, regulatory responsibilities, and compliance pathways, while addressing stablecoin regulations and decentralized finance oversight.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The trump administration will need to whip the republicans in line to include stable coin yields. It’s central to trumps economic plan.
Postponed, not cancelled
Whelp, that’s all folks. See yall in 2027
Coinbase’s pullout game is strong.
More laws always end up causing more problems than they solve, so this is probably a good thing. The big banks would pretty much be writing these bills anyway
Banks have balance sheet requirements and can offer yields. Stable coins are trying to provide yields with no balance sheet requirements. Either stable coins are going to be regulated like a bank or they won’t offer yield. I don’t see the entire US banking system going under so USDC can offer yield.