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The Publication of the Critical Clarity Act (Clarity Act) Text, Which Was Expected This Week, Has Been Delayed!
New details are emerging about the regulation of stablecoins, which are being closely monitored in the cryptocurrency sector. It is reported that the agreement reached between the industry stakeholders and the Senate Banking Committee, led by Tom Tillis, regarding the yield and reward mechanisms for stablecoins, is unlikely to be published this week.
A statement from Tillis' office said that, contrary to the timeline announced last week, the publication of the text has been postponed. A source close to the matter said that the delay is due to concerns that publishing the draft text before committee discussions (amendments) could provide an opportunity for opposition maneuvering, which could slow down the bill’s progress. These committee discussions are expected to take place in the second half of the month.
These events come amid ongoing tense negotiations between the cryptocurrency sector and traditional finance representatives. Negotiations were resumed after the initial draft of the text, agreed upon by Tillis, Angela Olubrooks, and the White House, sparked dissatisfaction within the sector.
