Eleanor Terrett: CLARITY Act Still Has Potential to Advance if Parties Can Reach Agreement on Yield

Odaily News: Crypto journalist Eleanor Terrett posted on platform X that following the U.S. Senate's cancellation of the CLARITY Act review hearing, industry participants, lawmakers, and staff are assessing the next steps. Some industry figures and staff from the Banking Committee believe that if the relevant parties (banks, Coinbase, and the Democratic Party) can reach an agreement on yield within the next few days, the bill still has a chance to move forward.

Regarding the issue of tokenized securities (Section 505), it no longer appears to be a core obstacle. This is because tokenization companies believe Coinbase's objections are taken out of context, and stakeholders, including Coinbase CEO Brian Armstrong, want significant amendments to or complete removal of this provision. Furthermore, discussions between the White House and the Senate are ongoing. When asked whether the Banking Committee's postponement affects the Agriculture Committee's schedule, sources indicated that the order is not crucial. If the Agriculture Committee can achieve a bipartisan agreement, it might smooth the process for the Senate Banking Committee. Previously, the House Agriculture Committee passed parts of the Clarity Act with a bipartisan vote of 47 to 6, subsequently providing support for the House Financial Services Committee.