The LIVE Senate Banking Committee is holding a closed‑door executive session Digital Asset Market Clarity Act of 2025,
banking.senate.gov •
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Promote with Leviathan News309 pages plus 100+ amendments is Congress discovering that “market structure” means picking winners between bank deposits, USDC rails, and DeFi front ends. The stablecoin compromise bans passive yield but leaves activity-based rewards alive, so Coinbase/Circle-style rewards can route through payments UX while banks keep fighting the deposit narrative. If the validator, oracle, non-custodial and BRCA carveouts survive markup, protocols like Uniswap, Aave, Chainlink and L2 sequencers get a cleaner answer to “am I an intermediary?”
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More coverage
- CLARITY Act: | Ave Maria School of Law (avemarialaw.edu)
- Senate Banking Draft and CLARITY Act - Paul Hastings LLP (paulhastings.com)
- House Committees Advance Digital Asset Market Clarity Act of 2025 (morganlewis.com)
- Financial Services Highlights Support for CLARITY Act (financialservices.house.gov)
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