Senate crypto bill receives over 100 amendments before CLARITY markup
More than 100 amendments have been attached to the Senate‘s crypto market structure bill ahead of Thursday’s Banking Committee markup.Senate lawmakers filed more than 100 amendments to the CLARITY Act ahead of Thursdays markup vote.Democratic senators proposed tighter stablecoin yield restrictions and new ethics rules tied to crypto holdings by public officials.Developer protections and plans to restore the Justice Departments crypto enforcement unit were also added to the amendment list. POLITICO reported that most of the proposed changes came from Democratic senators, while Republicans submitted a narrower set of revisions tied to sections already debated during months of closed-door negotiations. Committee members are expected to review and vote on the amendments during Thursdays hearing before deciding whether to move the legislation to the Senate floor. Released Monday, the Senate Banking Committee‘s updated CLARITY Act draft revived talks that had stalled earlier this year after Coinbase publicly stepped away from negotiations. The company had objected to earlier restrictions tied to stablecoin reward programs, prompting lawmakers and industry groups to reopen discussions around the bill’s language. One of the newest amendments targets the stablecoin yield compromise included in the revised draft. Senators Jack Reed and Tina Smith are seeking tougher wording that would prohibit interest-like