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The U.S. Senate Banking Committee will hold a key market structure hearing on May 14.
Golden Finance reports that on May 9th, the U.S. Senate Banking Committee announced it will hold a markup hearing on the “Clarity Act” on May 14th (Thursday). This market structure bill has been stalled since January, mainly due to issues such as stablecoin yields hindering progress. With Senators Thom Tillis and Angela Alsobrooks facilitating a compromise, lawmakers seem ready to continue advancing the bill, although banking industry groups still have concerns about related provisions. This markup is an important step toward the bill becoming law, but other obstacles still need to be overcome.