USA's "CLARITY Act" May See New Progress This Week: Legislation Negotiations Near Completion, Stablecoin Yield Dispute Expected to Reach Consensus

According to CoinDesk on March 20, negotiations on the US cryptocurrency market infrastructure bill "CLARITY Act" have been ongoing for weeks and are currently in a critical "near completion" stage.

According to informed sources, the updated legislative text was submitted to the White House for review on Thursday, and Senate Banking Committee Republican members held a special meeting that day to discuss how to bridge the final key differences.

This progress marks that the long-standing dispute surrounding stablecoin yields in the cryptocurrency industry is finally approaching a solution, and represents a crucial breakthrough in advancing the bill's objectives.

Although the banking industry and cryptocurrency enterprises had previously had serious disagreements on the structure of stablecoin reward programs, informed sources indicate that this dispute is nearing its end.

Despite making some progress, two key demands raised by Democrats may still become obstacles to the final passage of the bill.

First, they insist on requiring a ban on government officials profiting from personal cryptocurrency interests, a provision mainly targeting Trump personally;

Second, Democrats also demand that Democratic committee members be appointed to fill vacancies in the Commodity Futures Trading Commission (CFTC) before it adopts new rules.

Both of these controversial points may require concessions from the White House, and insiders in the cryptocurrency industry believe that these contentious points will be the final details settled by legislators in drafting the final bill.

On the legislative advancement front, Senator Cynthia Lummis stated that Coinbase CEO Brian Armstrong has shown a more flexible attitude in recent negotiations, a shift of significant importance.

As Armstrong's previous opposition to early drafts had blocked Senate hearings, his softening stance now could remove key obstacles to the bill's advancement, indicating that all parties are working to achieve consensus.

At the same time, regulatory agencies are actively cooperating with the legislative process. The SEC released its first cryptocurrency asset classification definition this week, providing a clearer framework for industry regulation.

This statement indicates that regulatory agencies are preparing for the new legal framework and are willing to work closely with the legislative branch to jointly promote the healthy development of the US cryptocurrency market.

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