Analysis: Industry insiders' dissatisfaction with the CLARITY Act erupts, criticizing excessive concessions to traditional financial institutions

ChainCatcherJan 15, 2026
#Crypto Stocks COIN-6.48%
The Senate Banking Committee has canceled Thursday's scheduled hearing to amend the CLARITY Act (crypto market structure bill). According to crypto reporter Eleanor Terrett, in addition to Coinbase taking the lead in announcing its withdrawal of support for the bill, industry dissatisfaction also erupted on Wednesday. They complained that lawmakers made too many concessions to banks and traditional financial institutions after proposing amendments to a 278-page bill, especially regarding stablecoin yields and tokenization.

Critics say the CLARITY Act itself already favors traditional institutions. Meanwhile, some Democrats are insisting on ethics provisions for senior government officials, including the president, to prohibit them from profiting from cryptocurrency projects. Democrats have previously been deadlocked with the White House on this issue on several occasions.

Currently, Banking Committee Chairman Tim Scott said in a statement announcing the postponement of the meeting that "everyone is still working in good faith at the negotiating table," but did not disclose when the committee will reschedule the review. The Senate will be adjourned next week for Martin Luther King Day and will reconvene the week after next. At that time, the Senate Agriculture Committee is expected to hold a review, which was also postponed from this Thursday.

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Analysis: Industry insiders' dissatisfaction with the CLARITY Act erupts, criticizing excessive concessions to traditional financial institutions

ChainCatcherJan 15, 2026
#Crypto Stocks COIN-6.48%
The Senate Banking Committee has canceled Thursday's scheduled hearing to amend the CLARITY Act (crypto market structure bill). According to crypto reporter Eleanor Terrett, in addition to Coinbase taking the lead in announcing its withdrawal of support for the bill, industry dissatisfaction also erupted on Wednesday. They complained that lawmakers made too many concessions to banks and traditional financial institutions after proposing amendments to a 278-page bill, especially regarding stablecoin yields and tokenization.

Critics say the CLARITY Act itself already favors traditional institutions. Meanwhile, some Democrats are insisting on ethics provisions for senior government officials, including the president, to prohibit them from profiting from cryptocurrency projects. Democrats have previously been deadlocked with the White House on this issue on several occasions.

Currently, Banking Committee Chairman Tim Scott said in a statement announcing the postponement of the meeting that "everyone is still working in good faith at the negotiating table," but did not disclose when the committee will reschedule the review. The Senate will be adjourned next week for Martin Luther King Day and will reconvene the week after next. At that time, the Senate Agriculture Committee is expected to hold a review, which was also postponed from this Thursday.

[ChainCatcher]

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