Bipartisan Senate Tends to Adjust GENIUS Stablecoin Revenue Rules, CLARITY Act Advances Imminently

Odaily News, according to sources, bipartisan senators are gradually accepting the demands from banking lobbying groups to adjust the stablecoin revenue rules within the GENIUS Act. The proposed adjustment paths include: adopting the plan proposed by Senator Alsobrooks, which limits revenue to trading activities (more favored by Democrats); or requiring that only institutions holding a U.S. Office of the Comptroller of the Currency (OCC) banking license can offer stablecoin revenue. The latter is considered more friendly to parts of the crypto industry but faces significant controversy in the DeFi sector.

Furthermore, sources indicate that Scott is expected to submit the House version of the CLARITY Act as placeholder text tonight to initiate next week's review process. The official text must be submitted no later than midnight on Monday.

Another industry insider involved in communications with Senate staff stated that the previous notion that "prayers are needed for the bill to pass" was more of a lighthearted joke rather than a pessimistic judgment on the legislative prospects. The final direction is expected to become clearer in the coming days.