The US CLARITY Act, designed to bring clarity to the cryptocurrency industry, is expected to pass Congress by April, according to Senator Bernie Moreno.
Speaking from Mar-a-Lago, Senator Moreno indicated a positive outlook for the bill's passage. Coinbase CEO Brian Armstrong, present at a crypto forum with industry and congressional representatives, stated a "path forward" has been identified for a win-win-win outcome benefiting the crypto industry, banks, and American consumers.
Previously, Armstrong had withdrawn support due to concerns over provisions banning interest-bearing stablecoins and designating the SEC as the primary crypto regulator. Moreno acknowledged that stablecoin rewards were a point of contention but suggested they are not central to the bill's core.
Senator Moreno also dismissed concerns about a potential Democratic shift in Congress, expressing confidence in Republican control. This legislation aims to solidify America's position as a global crypto hub.