Crypto companies are making new concessions to U.S. banks to negotiate the Clarity Act. This was reported by Bloomberg, citing informed sources.
The central issue of the dispute remains stablecoins. The current version of the bill prohibits digital asset providers from earning income solely from users' ownership of "stable coins."
To soften the provisions, interested firms are seeking a compromise with the financial sector. According to insiders, recent discussions proposed expanding the role of public banks in the ecosystem.
These ideas included a requirement for stablecoin issuers to hold a portion of their reserves in regional institutions. Another amendment aimed to simplify the process for local banks to issue their own tokens.
Bloomberg sources clarified that the parties have yet to reach an agreement.
Currently, companies are making significant efforts to advance the Clarity Act, but have not achieved notable results. On January 15, the U.S. Senate Banking Committee postponed its review of the Clarity Act. Notably, the latest version of the bill was not supported by the cryptocurrency exchange Coinbase due to "too many issues."
In a conversation with reporters, Banking Committee Chairman Tim Scott expressed hope that "both sides can find a balance."
"We have the power to protect consumers and local banks while allowing innovation and competition to lower prices. Both sides are working towards a compromise that will preserve innovation here in America," he stated in an interview.
Recall that in January, SkyBridge Capital founder Anthony Scaramucci called the ban on yield-bearing stablecoins in the Clarity Act disadvantageous for the U.S. He cited China's digital yuan as a more successful example.