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The U.S. Senate Banking Committee will hold a voting hearing on the Digital Asset Market Transparency Act on May 14.
Odaily Planet Daily News: The U.S. Senate Banking Committee announced that it will hold a voting hearing on the 2025 Digital Asset Market Transparency Act (Clarity Act) at 10:30 AM on May 14. The bill had previously been stalled due to disputes over provisions such as stablecoin yield. Recently, Senators Tom Tillis and Angela Alsobrooks reached a compromise plan: to prohibit earning yield on static stablecoin reserves, but to allow rewards for stablecoins in active status.
Although industry groups such as the American Bankers Association still have concerns about the text and have proposed amendments, the committee’s scheduling indicates that the legislative process will continue to move forward. In addition, Senator Kirsten Gillibrand suggested adding an ethical clause to the bill to prohibit senior government officials from profiting while regulating the crypto industry.