Bitcoin (CRYPTO: BTC) crossed $80,000 Monday as Senate Banking Committee chairman Tim Scott (R-SC) declared the CLARITY Act is in the “red zone.”
Scott Targets May Markup, June Vote
Scott told Fox Business he hopes to hold a markup of the CLARITY Act in May and bring the bill to the Senate floor in June or July.
The legislation passed the House in July 2025 but stalled in the Senate as banks and stablecoin companies fought over stablecoin yield.
Sens. Thom Tillis (R-NC) and Angela Alsobrooks (D-NY) hammered out a compromise late last week that allows crypto firms to offer stablecoin yield, provided rewards are not “economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit.”
Meanwhile, Coinbase (NASDAQ:COIN) and Circle (NYSE:CRCL) stock …
