Bank Lobby Pushes to Delay CLARITY Act as Senate Markup Nears

U.S. banking trade groups are lobbying to stall the CLARITY Act before a Senate markup in the week of May 11, warning that stablecoin rewards could reduce lending capital by as much as 20%. Senate negotiators are keeping the compromise in place and still working toward a bipartisan markup in May. Senator Bernie Moreno said lawmakers want to deliver the package to President Donald Trump before the end of June.

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