The U.S. Senate’s crypto market structure bill, known as the CLARITY Act, has been pushed back for several weeks as the Senate Banking Committee shifts attention to housing legislation tied to President Trump’s affordability agenda, according to Bloomberg. Sources say the bill may not be revisited until late February or March. The legislation had already been postponed last week after Coinbase withdrew support over rules affecting stablecoin yields.
The bill is intended to clarify regulatory oversight of digital assets between the SEC and the CFTC. However, Democrats and banking lobbyists are pushing to limit stablecoin yields, fearing a potential outflow of deposits. At a time when the national average savings account yield is just 0.61%, USD stablecoins can offer returns as high as 5%, highlighting the tension between banks and crypto holders.
Crypto markets showed modest reactions. Total market capitalization rose slightly to $3.1 trillion. Bitcoin bounced from an intraday low of $87,300 to touch $90,000 in early Asian trading before stabilizing near $89,800. Ether reclaimed $3,000, while XRP, Monero, and Canton saw smaller gains.
Following the delay, Republican Senator John Boozman introduced an updated bill building on the stalled bipartisan legislation. At the same time, Donald Trump announced progress on Greenland, saying he will not impose threatened tariffs after meeting NATO Secretary-General Mark Rutte to establish a framework for a future agreement.
