Crypto Industry Pushes for Changes to CLARITY Act Ahead of Senate Markup

The cryptocurrency industry is gearing up to propose changes to the CLARITY Act as the Senate prepares to release the draft text of the bill.

According to reports, industry leaders are working on a counterproposal that aims to address concerns about consumer protection and sustainable rewards programs. The move comes after Coinbase opposed the stablecoin yield compromise, which would impose a broad ban on how crypto firms can distribute stablecoin rewards to customers.

Sensor Cynthia Lummis has assured market participants that a bipartisan compromise will ensure strong protections for decentralized finance (DeFi) and developers. She urged market participants not to believe speculation about the bill undermining the Blockchain Regulatory Certainty Act (BRCA). The odds of President Trump signing the bill into law this year have dropped to 59%, according to Polymarket data.