Breaking: Lawmakers may be close to unlocking the CLARITY Act after fresh momentum on Capitol Hill, multiple outlets report.
CNBC said Friday that a tentative deal between banking and crypto industry negotiators could be announced as soon as today, potentially clearing the way for long-stalled market-structure legislation aimed at clarifying how digital assets and stablecoins are regulated. Sources and Capitol Hill chatter suggest Senate Banking Committee leaders may have found common ground and could soon schedule a committee markup and vote; the Agriculture Committee already cleared a procedural vote in January.
Talks have accelerated in recent days as stakeholders push to resolve several thorny issues. The most persistent sticking point is stablecoin “reward” or yield structures — essentially how proposed payouts on stablecoin deposits would work and whether banks would accept them. CNBC says that question remains unresolved even as other pieces of the package seem to be falling into place.
A separate, slightly more optimistic update came Thursday from reporter Eleanor Terrett, who quoted Senate staff saying negotiators are “99% of the way there on stablecoin yield” and that discussions around the bill’s digital-asset provisions “are in a good place.” Terrett added that Sen. Cynthia Lummis viewed a recent meeting as productive and positive. Both reports, however, stress that momentum has not yet produced final text and that details could still shift as leaders hammer out remaining terms.
The negotiations have also taken on a broader political dimension. Politico reported Thursday that Senate Banking Committee Republicans are privately exploring whether to fold community-bank deregulatory language — lifted from a House-passed housing bill — into the CLARITY Act as part of a package trade. Under that idea, banking-related rollbacks would be added to the crypto bill in exchange for House Republicans accepting the Senate’s housing legislation as written. The proposal was reportedly discussed in a closed-door meeting that included Trump administration officials and GOP committee members. Politico says talks remain fluid and no final deal has been struck; proponents argue a swap could help secure House support for the Senate’s housing measures without further amendments.
Bottom line: momentum is building around the CLARITY Act, and negotiators appear closer than they have been in months — but key technical and political details, especially around stablecoin yields and potential policy swaps, are still being finalized.
Sources: CNBC, Eleanor Terrett, Politico. Featured image: OpenArt; chart: TradingView.com.
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