US Senate's Crypto Clarity Act Faces Tight Deadline Amid Stablecoin Yield Debate

Despite the legislative calendar running out of time, a Senate aide believes a couple of weeks' delay to address stablecoin-yield concerns may not be fatal, with earlier negotiations over DeFi protections largely settled. The bill needs to clear the Senate Banking Committee, then be merged with the version passed by the Senate Agriculture Committee, with further revisions likely. The final legislation may be revised to include an ethics piece limiting senior government officials from profiting off crypto interests. The bill's passage is uncertain, with a research note from crypto investment firm Galaxy estimating the odds of success at 50-50, and possibly lower, due to the sheer number of unresolved questions that must be settled under time pressure.