Lawmakers are closing in on a major breakthrough in passing the CLARITY Act, a landmark bill aimed at establishing a regulatory framework for U.S. crypto markets.
Senators Thom Tillis and Angela Alsobrooks, alongside White House officials, have reached a tentative agreement on stablecoin yields - a pivotal point of contention between banks and crypto firms. Alsobrooks confirmed an agreement in principle, stating it balances innovation protection with deposit stability.
Tillis cautioned the deal remains preliminary, stressing further review with industry stakeholders is needed before finalization.
The Senate Banking Committee is expected to hold a markup in mid- to late April, likely starting April 13 or April 20 following the Easter recess - a critical step toward floor debate.
The total crypto market cap fell to $2.38 trillion Friday, reflecting ongoing volatility ahead of legislative developments.