The odds of US President Donald Trump signing the Clarity Act into law this year have jumped again following new developments. That includes today’s meeting on Capitol Hill, where cryptocurrency leaders and banks will review the stablecoin return text even as both sides seek to reach an agreement.
CLARITY business jumps amid optimism about reaching agreement on stablecoin revenue text
The odds of Trump signing the cryptocurrency bill into law this year have risen to 64%, according to Polymarket data. This represents a significant jump from a low of 51% yesterday, indicating renewed optimism that the cryptocurrency bill could become law this year.
The rise in CLARITY Act prospects comes as crypto leaders and banks prepare to review the stablecoin return provision in the cryptocurrency bill. According to A Political reportCryptocurrency and banking leaders will review the latest draft of stablecoin return terms, which were drafted by Senators Thom Tillis and Angela Alsobrooks to resolve the dispute between the two parties.
Cryptocurrency companies will review this proposed final language in the cryptocurrency bill as soon as today, while banks will likely review it tomorrow. This latest proposal comes as senators have held several meetings with representatives from both the crypto and banking industries to gather feedback on a preliminary agreement on the issue.
Senators Tillis and Albrooks reached an agreement with the White House last month on language to be included in the CLARITY Act to resolve stablecoin yield conflicts between the cryptocurrency and banking industries.
However, cryptocurrency companies such as Top crypto exchange Coinbase has noticeably backed away from this provision, imposing a broad ban on stablecoin rewards and only allowing activity-based rewards that are not equivalent to interest on deposits.
An agreement could be reached by tomorrow
Prospects for the CLARITY Act have also jumped amid expectations that the cryptocurrency and banking industries will soon reach an agreement on a stablecoin return text. Coinbase CLO Paul Grewal said yesterday that A Dealing with stablecoin rewards It can be reached tomorrow.
Meanwhile, a cryptocurrency bill could be tokenized this month once the Senate returns from recess, and a vote on the floor could follow shortly after. There have been concerns that other issues, such as DeFi and developer protections in the bill, could serve as barriers to the CLARTIY Act moving forward.
However, pro-crypto Senator Cynthia Lummis emphasized that the latest draft adequately addresses the issues of decentralized finance and developer protection. She described the cryptocurrency bill as “the best thing” that could happen to the DeFi community, and that it finally gives them the legal certainty they deserve. “Developers, validators, and contract operators will finally have a safe haven, and we can ensure American innovation stays here on American soil,” the senator added.
