Bitcoin News
By Bruce Buterin
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Stablecoins, Ethics, Banking Lobbies: The Real Points of Friction. The text had already passed the House of Representatives last year with significant bipartisan…
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Lummis, "Bitcoin Senator" Since 2013, Pushes Hard. Cynthia Lummis is no newcomer to this issue. She has held Bitcoin since 2013 — making her one of…
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Republican Senator Cynthia Lummis has run out of patience. On Wednesday, she took to the Senate floor to criticize her Democratic colleagues, who have been delaying the adoption…
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Eleven months. That's how long Lummis says she's spent making concessions, negotiating, and rewriting. Yet, the text remains stuck.
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The text had already passed the House of Representatives last year with significant bipartisan support. That's the positive side. But in the Senate in 2026, it's a different story.
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One of the main issues is the yield on stablecoins. The banking lobby doesn't like it. Banks probably fear that interest-bearing stablecoins might eat into their deposits, even…
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Then there's the ethical question. An updated version of the bill was presented last week — not long ago, then.
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Cynthia Lummis is no newcomer to this issue. She has held Bitcoin since 2013 — making her one of the few U.S. senators with long-term personal exposure to the asset.
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Also Read: Paul Atkins Supports the Clarity Act Crypto Before Congressional Vote
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For her, the law is urgent. Not just for the crypto industry, but for consumers and businesses operating in this sector without knowing exactly what legal framework they are in.
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But skeptical Democrats are not convinced that the current version adequately addresses transparency and accountability issues. Too many gray areas, they say. Perhaps.
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Republicans continue to advocate for bipartisan support. Without it, the law won't pass — the numbers in the Senate demand it. And Lummis knows it.
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The issue of stablecoins likely remains the most thorny point. It's a subject that directly affects the economic model of traditional banks, and the banking lobby carries…
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Related Reading: SEC Chairman Paul Atkins Pushes the CLARITY Act in the Senate to Regulate Cryptos
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See also: Senate CLARITY Act Vote Hangs Over Crypto Industry as August Recess Looms
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