Why banks and offshore hubs such as Dubai profit from the Senate's defeat of the Clarity Act
The recent decision by the Senate to let the Clarity Act die has sparked a flurry of commentary among financial and legal experts, each pointing to a different set of beneficiaries. At first glance, the legislation appeared to be a straightforward attempt to bring more transparency and consumer protection to the burgeoning stable‑coin market. In practice, however, its defeat has created a ripple …
Sept. 21, 2026, 2:53 p.m.