Crypto Reporter: CLARITY Act Could Still Advance if Parties Can Agree on Yield

BlockBeats News, January 16th, Crypto reporter Eleanor Terrett posted, stating, "After the US Senate Banking Committee canceled the 'CLARITY Act' amendment hearing, industry participants, legislators, and committee staff have had time to digest yesterday's events and the possible next steps. However, many are still 'angry' about yesterday's handling of the situation."

Consensus among some industry insiders and Banking Committee staff contacted is that the situation is not entirely without hope. If in the coming days the relevant parties (namely banks, Coinbase, and Democratic lawmakers) can reach an agreement on the yield issue, then the bill is "likely" to proceed.

Regarding the tokenized securities issue, which involves research by the SEC and CFTC and a possible notice-and-comment process, two reasons indicate that this is no longer a major concern. First, tokenization companies now state that the provisions of concern to Coinbase were taken out of context. Second, some stakeholders, including Brian Armstrong, have expressed hope that the provisions could undergo significant revisions or be removed entirely."