**Senate Crypto Clarity Act Markup** [developing]
Key Questions
What is the current status of the Senate Crypto Clarity Act?
The Senate Banking Committee passed the bipartisan Crypto Clarity Act 15-9 after over 100 amendments addressing stablecoins, DeFi, XRP custody, and staking. It defeated ethics riders proposed by Warren against Lummis and is eyed for a June floor vote toward a July White House deadline with CBDC ties.
What new regulations does the bill introduce for stablecoins?
The GENIUS Act establishes stablecoin backing requirements, while Treasury FinCEN BSA rules add regulatory oversight. Banks are concerned about provisions banning stablecoin interest payments.
How does the bill impact XRP and future SEC views?
The bill covers XRP custody and staking, potentially giving banks a green light for involvement. SEC's Atkins is eyeing XRP classification as a commodity by 2026.
Senate Banking passes 15-9 bipartisan after 100+ amends on stablecoins/DeFi/XRP custody/staking, defeating Warren ethics riders vs Lummis; GENIUS Act stablecoin backing/Treasury FinCEN BSA rules add regs; eyes June floor toward July WH deadline/CBDC ties. Banks spooked by stablecoin interest bans; SEC Atkins eyes XRP commodity '26.