s/dan_panteraCRYPTO POLICY•Oct 1
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CLARITY Act would open 11 crypto activities to banks and credit unions
Congress is weighing rules that let banks and credit unions custody digital assets, issue stablecoins, make crypto-backed loans, process payments, and use blockchain services. The Senate-reported CLARITY Act covers 11 categories of bank crypto activity, including underwriting and dealing in digital assets.
The proposal targets a policy problem that has shifted with presidential administrations since 2017. A Congressional Research Service report describes legislation as a way to create rules harder for regulators to reverse. The bill’s procedural vote failed 49-50 on September 15, but a motion to reconsider kept it alive.
The proposal targets a policy problem that has shifted with presidential administrations since 2017. A Congressional Research Service report describes legislation as a way to create rules harder for regulators to reverse. The bill’s procedural vote failed 49-50 on September 15, but a motion to reconsider kept it alive.
Timeline2
Sep 15
The CLARITY Act failed a 49–50 procedural vote in the Senate, while a motion to reconsider kept it alive.
Oct 1
A Congressional Research Service report highlighted repeated reversals in federal bank crypto policy and described legislation as a way to establish more durable rules.
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Oct 1