stable coins
By Evie Vavasseur
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What the Clarity Act Actually Covers. The Clarity Act takes aim at digital currencies broadly, but stablecoins are probably the biggest…
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Why the Industry Keeps Watching Fraser. Fraser's voice carries weight here for a few reasons.
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Uncertainty Still Dominates the Timeline. The absence of a clear schedule for passage is kind of the defining feature of this whole saga.
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Jane Fraser wants a law. The Citigroup CEO has come out in support of passing comprehensive crypto legislation, pushing for Congress to move on the Clarity Act — a bill designed…
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Fraser's position isn't exactly a surprise given where Citigroup sits in the financial ecosystem, but the directness of her support matters. She's not hedging.
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Citigroup has been actively engaging with lawmakers on exactly these points. Fraser and the bank's teams aren't sitting on the sidelines waiting to see what Congress produces.
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The bill is still under consideration. No timeline has been set for a vote, and the final shape of the legislation remains unclear.
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Fraser's voice carries weight here for a few reasons. Citigroup is a global institution with deep ties to the traditional financial system, and her backing of crypto legislation…
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Related: SEC Plans Crypto Rules as CLARITY Act Sits Stuck in Senate
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Stablecoin regulation specifically has been a sticking point in Washington for years. Multiple bills have come and gone without making it across the finish line.
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Fraser's push for refinements to the current draft probably reflects Citigroup's read on where the bill falls short.
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The absence of a clear schedule for passage is kind of the defining feature of this whole saga. Financial institutions are in a holding pattern.
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Related: Dinaro Becomes Slovenias First MiCA-Registered Stablecoin Issuer
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And the stakes are real. Stablecoins alone represent a significant chunk of daily crypto transaction volume globally.
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Fraser's call for action won't speed up Congress on its own. But it adds to a growing chorus of mainstream financial voices saying the same thing: the current limbo isn't working…
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