Stablecoins
Senate banking committee releases clarity act draft
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The Senate Banking Committee released updated text for the CLARITY Act on May 12 ahead of a scheduled May 14 markup. The draft sets rules for digital assets, stablecoins, and decentralized finance while leaving ethics provisions unresolved.
The US Senate Banking Committee is scheduled to hold a markup on the CLARITY Act on May 14, with stablecoin rewards provisions remaining a key point of contention. Banking groups are pressing for tighter limits while the White House has accused industry leaders of skipping earlier negotiations.
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Crypto exchange-traded products recorded $858 million in inflows last week. The figure extends a six-week streak that has now reached $4.9 billion in total.
Following last week's stablecoin yield compromise by Senators Tillis and Alsobrooks, crypto stocks rallied and markup expectations grew for the Digital Asset Market Clarity Act. Circle shares surged 18% amid optimism for Senate Banking Committee action the week of May 11, despite banking pushback.
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Hong Kong's monetary authority has warned the public about fraudulent stablecoins masquerading as products from HSBC and HKDAP, exploiting trust in the recently licensed issuers amid the rollout of the city's stablecoin regime.
Germany-based AllUnity has launched its MiCA-compliant euro stablecoin EURAU on the Solana blockchain. The expansion targets faster and cheaper euro transfers for businesses and developers. This move coincides with rapid growth in the euro stablecoin market.
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Ripple has emphasized that institutions need infrastructure supporting multiple stablecoins for cross-border payments as volumes surge. Global stablecoin transactions reached $33 trillion in 2025, surpassing credit card volumes, according to the company. Early adopters of flexible platforms are positioned ahead amid regulatory shifts.
Senate banking committee sets clarity act markup for may 14
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