#Gate广场五月交易分享

Cbase CEO: Clear Act Provides Necessary Conditions for Banks

The vote on the Clear Act is imminent, and various parties are intensively voicing their opinions on the bill. Cbase CEO Brian Armstrong stated that the Clear Act provides the necessary conditions for banks. The Senate released the 309-page text of the bill on May 12, with committee review scheduled for May 14. The bill clarifies which digital assets fall under the jurisdiction of the U.S. Securities and Exchange Commission (SEC) and which fall under the Commodity Futures Trading Commission (CFTC). During a live broadcast, Armstrong pointed out that the compromise preserves the core requirements of the industry and revealed that Cbase is working with at least five major global banks to integrate cryptocurrencies. The five major banking groups jointly issued a statement rejecting the stablecoin yield compromise, believing that the bill still allows for yield-based rewards competing with bank deposits. Senator Cynthia Lummis called the final text “the result of months of effort,” while Senator Tom Tillis warned that some traditional financial factions might oppose any version of the Clear Act. The bill is expected to pass the House of Representatives by July 2025 and requires 60 votes to advance in the Senate. Market forecasts estimate a greater than 60% probability that it will become law in 2026.