Análise da lei de clareza enfrenta obstáculos de ética e stablecoins

O Comitê Bancário do Senado planeja analisar a Lei CLARITY na próxima semana, mas as exigências dos democratas por regras de conflito de interesses e a oposição dos bancos às recompensas de stablecoins ameaçam inviabilizar o esforço. Os negociadores chegaram a um compromisso sobre os rendimentos de stablecoins no início deste mês, porém os bancos argumentam que o texto ainda permite evasões. Uma votação muito adiada sobre o projeto, que visa esclarecer a supervisão de ativos digitais entre a SEC e a CFTC, agora permanece incerta.

Os senadores Thom Tillis e Angela Alsobrooks propuseram um texto que proíbe empresas de criptoativos de oferecer recompensas semelhantes a juros bancários, ao mesmo tempo que permite incentivos vinculados ao uso da plataforma. A Associação Americana de Banqueiros sustenta que o rascunho ainda permite que corretoras recompensem saldos de contas e tempo de permanência, retirando fundos de depósitos segurados. Essa oposição persiste apesar do compromisso que reviveu o ímpeto do projeto de lei após meses de atraso.

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Senators Thom Tillis and Angela Alsobrooks unveil bipartisan CLARITY Act compromise banning certain stablecoin yields while allowing legitimate rewards, endorsed by crypto leaders.
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Senators release CLARITY Act compromise on stablecoin yields

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U.S. Senators Thom Tillis and Angela Alsobrooks released compromise text Friday for the CLARITY Act, addressing stablecoin yields as the final major hurdle in the crypto market structure bill. The agreement bans yields equivalent to bank deposits but allows rewards for bona fide activities. Crypto industry leaders quickly endorsed it and urged the Senate Banking Committee to schedule a markup.

The Senate Banking Committee will hold a markup hearing on the Digital Asset Market Clarity Act of 2025 on Thursday, May 14, at 10:30 a.m. The session comes after months of delays over stablecoin provisions and other issues.

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The CLARITY Act, aimed at providing regulatory clarity for digital assets, is advancing in Washington with hopes of passage by mid-2026. Negotiations focus on stablecoin yields, drawing involvement from President Trump and industry leaders. The bill could benefit ISO 20022-compliant coins like XRP and Stellar amid ongoing debates between banks and crypto firms.

The latest White House meeting between bankers and crypto experts showed progress on stablecoin yield issues, though no agreement was reached. This third session aimed to resolve a key impasse blocking the Digital Asset Market Clarity Act. Participants described the discussions as constructive, with more talks expected.

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Treasury Secretary Scott Bessent has urged lawmakers to pass the Digital Asset Market Clarity Act before the end of the spring legislative window. In a recent interview, he emphasized the need for clear market structure rules amid ongoing volatility in crypto markets. Bessent highlighted bipartisan support and the importance of resolving disputes over stablecoin provisions.

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