Analysis: Industry insiders express outrage over the CLARITY Act, criticizing excessive concessions to traditional financial institutions

BlockBeatsJan 15, 2026
#Crypto Stocks COIN-6.48%
On January 15, the Senate Banking Committee canceled the scheduled hearing on amendments to the CLARITY Act (Cryptocurrency Market Structure Bill), which was set for Thursday. According to crypto journalist Eleanor Terrett, in addition to Coinbase leading the charge in withdrawing its support for the draft, industry dissatisfaction erupted fully on Wednesday. Critics complained that lawmakers had made excessive concessions to banks and traditional financial institutions after proposing amendments to the 278-page bill—particularly regarding stablecoin yields and tokenization.

Critics argue that the CLARITY Act was already biased in favor of traditional institutions.

Meanwhile, some Democrats continue to insist on establishing ethical guidelines for high-level government officials, including the President, prohibiting them from profiting personally from cryptocurrency projects. Democrats have previously reached an impasse with the White House over this issue on multiple occasions.

Senate Banking Committee Chairman Tim Scott stated in an announcement postponing the meeting that "everyone is still working earnestly at the negotiating table," but did not reveal when the committee would reschedule the review.

The Senate will be on recess next week for Martin Luther King Jr. Day and return the following week. At that time, the Senate Agriculture Committee is expected to hold a hearing, which had also been postponed from this past Thursday.

[BlockBeats]

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Analysis: Industry insiders express outrage over the CLARITY Act, criticizing excessive concessions to traditional financial institutions

BlockBeatsJan 15, 2026
#Crypto Stocks COIN-6.48%
On January 15, the Senate Banking Committee canceled the scheduled hearing on amendments to the CLARITY Act (Cryptocurrency Market Structure Bill), which was set for Thursday. According to crypto journalist Eleanor Terrett, in addition to Coinbase leading the charge in withdrawing its support for the draft, industry dissatisfaction erupted fully on Wednesday. Critics complained that lawmakers had made excessive concessions to banks and traditional financial institutions after proposing amendments to the 278-page bill—particularly regarding stablecoin yields and tokenization.

Critics argue that the CLARITY Act was already biased in favor of traditional institutions.

Meanwhile, some Democrats continue to insist on establishing ethical guidelines for high-level government officials, including the President, prohibiting them from profiting personally from cryptocurrency projects. Democrats have previously reached an impasse with the White House over this issue on multiple occasions.

Senate Banking Committee Chairman Tim Scott stated in an announcement postponing the meeting that "everyone is still working earnestly at the negotiating table," but did not reveal when the committee would reschedule the review.

The Senate will be on recess next week for Martin Luther King Jr. Day and return the following week. At that time, the Senate Agriculture Committee is expected to hold a hearing, which had also been postponed from this past Thursday.

[BlockBeats]

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