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Clarity Act Gets Senate Banking Commission Mark Up
The U.S. Clarity Act receives its mark up date for the Senate Banking Commission next week as Senators seek to review final draft bill.
U.S. Clarity Act heads to a mark up by the Senate next Thursday (Caleb Fisher / Unsplash)
U.S. Clarity Act has its mark up date in the Senate.
On Friday, the Senate Banking Commission had published its mark up date for the Clarity Act. Republican and Democrat Senators will meet next Thursday to review the draft bill for regulating crypto assets.
Speaking at the Milken Institute last week, Chairman Tim Scott had expressed his desire to pass the Clarity Act.
On stablecoins, he had also pointed out that they should be treated differently than regular savings due to their "Dollar-for-Dollar" reserve, which requires stablecoin issuers to hold U.S. Treasuries and cash deposits as reserve assets in contrast to the fractional banking system.
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