⚠️ CRYPTO MARKET STRUCTURE BILL (CLARITY ACT) HITS MAJOR DELAY ⚠️
🔹 The U.S. Senate Banking Committee just postponed its scheduled vote on the long-awaited crypto market structure legislation—at the last minute—due to deep divisions between the crypto industry and traditional banks.
🔹 Crypto firms are pushing back hard against the revised draft, which heavily favors banks. A big flashpoint: restrictions preventing stablecoins from paying yield/interest directly to holders.
🔹 Why it matters: Banks rely on deposits for massive profits (e.g., JPMorgan Chase reported ~$95B in net interest income in 2025). Allowing stablecoins to offer competitive yields could pull cash out of banks and erode their core revenue model.
🔹 The tipping point? Coinbase CEO Brian Armstrong publicly withdrew support, stating the current version is worse than no bill at all—highlighting issues like DeFi restrictions, tokenized equities limits, and more. This led directly to the vote being pulled.
🔹 The bill isn’t dead—it’s only delayed. Negotiations will continue after the Senate break, with hopes of finding common ground.
🔹 Bottom line: This isn’t really about protecting users—it’s a power struggle over who controls the flow of money between legacy banks and the crypto ecosystem.
