US Cryptocurrency Regulation Hits Critical Deadline as Industry Urges Action

The US Congress is facing a critical deadline to pass the CLARITY Act, with Senator Cynthia Lummis warning that it may be the 'last chance' to regulate crypto before 2030.

Industry figures are urging lawmakers to act quickly, with some arguing that clearer oversight would help attract more innovation and retail demand for cryptocurrency assets.

The bill has gained momentum in recent weeks, with key industry players such as Coinbase CEO Brian Armstrong and a16z Crypto's managing partner Chris Dixon expressing support for the legislation.

However, a major hurdle remains: the dispute over stablecoin yield. This issue has been a sticking point in the negotiations, with some regulators pushing for stricter regulations on stablecoins.