stable coins
By Julie Binoche
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Ethics Rules With Real Teeth. The ethics piece is probably the most politically charged part of the whole thing.
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Stablecoins, BRCA, and the Compliance Shift. On stablecoins, the bill hands the Treasury Secretary authority to restrict rewards if community…
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Tuesday's Vote and What 35% Really Means. Here's the cold number: Polymarket puts the CLARITY Act's odds of passing this year at 35%.
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Senate Republicans dropped a revised, 635-page CLARITY Act just two days before a critical procedural vote, and the pressure is real.
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The updated proposal is the product of a year-long bipartisan slog that involved 126 amendments requested by Democrats. That's not a small number.
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The ethics piece is probably the most politically charged part of the whole thing. Under the revised bill, state attorneys general would get the power to enforce restrictions on…
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And the penalties aren't symbolic. Violations could cost someone $500,000 or 20% of the transaction value, whichever is bigger. That's a serious number.
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Pretty much everyone in the crypto industry has watched federal officials trade tokens while simultaneously writing the rules around them.
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On stablecoins, the bill hands the Treasury Secretary authority to restrict rewards if community banks start taking significant deposit losses.
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The BRCA changes are maybe less flashy but still matter a lot to developers and validators. The revised version would keep shielding them from being classified as money…
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Related: XRP Stagnates as 93% ETF Inflow Drop Signals CLARITY Act Anxiety
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The bill also removes references to Section 1960 of Title 18 of the US Code — that's the section covering unlicensed money transmitting businesses.
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Additional provisions take aim at affiliate trading and conflicts of interest at digital commodity exchanges, brokers, and dealers.
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Here's the cold number: Polymarket puts the CLARITY Act's odds of passing this year at 35%. That's the highest it's been since late July, but it's still not great.
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The procedural vote is set for Tuesday at 2:15 p.m. ET. It's not a final passage vote — it's a motion to proceed, basically a test of whether enough senators are willing to bring…
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