Crypto Reporter: CLARITY Act Could Still Advance if Parties Can Agree on Yield

On January 16, crypto reporter Eleanor Terrett noted: “After the U.S. Senate Banking Committee canceled the CLARITY Act amendment hearing, industry participants, legislators, and committee staff have had time to process yesterday’s events and potential next steps. Still, many remain angry over how the situation was handled yesterday.” Some industry insiders and contacted Banking Committee staff agree the situation isn’t entirely without hope. If relevant parties—banks, Coinbase, and Democratic lawmakers—can strike a deal on the yield issue in the coming days, the bill will likely move forward. Regarding tokenized securities (tied to ongoing SEC and CFTC research and a potential notice-and-comment period), two factors mean this is no longer a top concern: 1. Tokenization firms now say the provisions Coinbase had flagged were taken out of context. 2. Some stakeholders—including Coinbase CEO Brian Armstrong—have expressed hope the provisions will see major revisions or be scrapped entirely.