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A U.S. Senator has introduced over 130 amendments to the "CLARITY Act" bill
BlockBeats News, January 14th, according to CoinDesk, based on terms obtained by the outlet, U.S. senators have submitted over 130 amendments to the "CLARITY Act" ahead of this week's milestone crypto market structure legislative hearing.
These terms range from outright banning stablecoin yields to prohibiting "public officials from benefiting from crypto interests," to modifying the definition of digital asset mixers, proposed by both Republican and Democratic senators. The Senate Banking Committee is set to hold a markup hearing on Thursday, where lawmakers will debate the amendments, vote on whether to adopt relevant terms, and ultimately decide whether to advance the base bill. A similar hearing scheduled by the Senate Agriculture Committee has been postponed to late January. The base text of the Banking Committee's bill was released nearing midnight on Monday, following which legislators and lobbyists have been scrutinizing the details.
Some amendments seem to have bipartisan support: Tillis and Alsobrooks jointly submitted three amendments, two of which appear to target the stablecoin reward provisions in the bill. One amendment aims to strike the word "solely" from the base text, with the current term stating "a digital asset servicer shall not solely receive interest or return of any kind solely for holding a payment stablecoin (whether in cash, token, or other consideration)." Another amendment seeks to modify the yield reporting requirements and add risk guidance provisions.
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