Stablecoin Yield Dispute Halts CLARITY Act Progress
The CLARITY Act, a proposed stablecoin regulation, has stalled in the U.S. Senate due to a dispute over stablecoin yields. Disagreements between traditional financial institutions and crypto industry stakeholders over yield-bearing stablecoin products have hampered its progress.
Traditional banks advocate for a ban on stablecoin yields, viewing them as a threat to deposit bases. Crypto firms, conversely, argue yields are essential for fostering the growth and functionality of the broader decentralized finance (DeFi) ecosystem.
Coinbase's CEO has reportedly withdrawn support for the CLARITY Act.
Trump Signals Imminent Crypto Bill Approval, Trillions Projected
Former President Trump announced imminent approval of a Bitcoin and broader crypto market bill, projecting it would inject trillions into the market.
Reports indicated President Trump was scheduled to sign a crypto order today at 4:00 PM, an anticipated event accompanied by expectations of market volatility.
$BTC declined 1.0% to $67,093.00 over 24 hours. While mindshare saw a 1.5% change, overall $BTC sentiment remained 65.7% bullish, within its typical 65-75% range. The broader market's Fear & Greed Index registered 0/100, indicating 'Extreme Fear'.