The Currency analytics
By Steven Anderson
Banks want profits. Trump didn't hold back when he called out financial institutions for what he sees as deliberate stalling tactics around the CLARITY Act, a piece of…
The president took to Truth Social with his usual direct approach, writing that "The Genius Act is being threatened and undermined by the Banks, and that is unacceptable.
The GENIUS Act from last year set up basic rules for stablecoins but didn't allow direct interest payments.
Coinbase CEO Brian Armstrong pulled his support from the bill after seeing amendments that would block passive yields on stablecoins.
Geoff Kendrick from Standard Chartered dropped some serious numbers into the debate. He warned that banks could see $500 billion flow out to stablecoins by 2028 if the…
Crypto leaders mostly backed Trump's push for action. Ripple's Brad Garlinghouse praised the president's intervention on Twitter, saying regulatory clarity would help the whole…
Charles Hoskinson threw cold water on the whole thing. The Cardano founder called the CLARITY Act a "trash bill" that would put too many crypto projects under SEC control.
The legislative fight continues with no clear end in sight. Congress hasn't scheduled new hearings, leaving everyone guessing about what comes next.
Senator Elizabeth Warren added her voice to the mix, saying any final bill needs strong consumer protections.
International watchers are paying attention too. European Central Bank President Christine Lagarde said in a recent interview that whatever happens in the U.S.
Binance CEO Changpeng Zhao tweeted support for clear rules on March 3, saying stability would help the market grow.
Goldman Sachs issued a report on March 2 warning that stablecoin yields could hurt smaller banks and create systemic risks.
The Blockchain Association has been lobbying hard for the CLARITY Act. Executive director Kristin Smith said during a recent conference that "We need a framework that encourages…
Markets stayed volatile through all this drama. Bitcoin hovered around $44,000 on March 3 as traders tried to figure out what the regulatory fight means for prices.
Treasury Secretary Janet Yellen has been meeting with both bank executives and crypto leaders, trying to find middle ground.