US CLARITY Act May See New Progress This Week: Legislation Negotiations Near Completion, Stablecoin Yield Dispute Expected to Reach Consensus

According to CoinDesk's March 20 report, negotiations on the US crypto market structure bill "CLARITY Act" have been ongoing for weeks and are currently at a critical stage of being "nearly finalized."

According to informed sources, the updated legislative text was submitted to the White House for review on Thursday, and Republican senators on the Banking Committee held a special meeting that day to discuss how to bridge the remaining key differences.

This development marks that the long-standing dispute surrounding stablecoin yields in the cryptocurrency industry is finally about to see a breakthrough, and represents a crucial turning point in advancing the bill's objectives.

Although banking and cryptocurrency enterprises previously had serious disagreements over the structure of stablecoin rewards programs, informed sources indicate that this dispute is nearing resolution.

Despite making some progress, two key demands raised by Democrats could still become obstacles to the bill's final passage.

First, they insist on requiring a ban preventing government officials from profiting from personal cryptocurrency interests, a provision mainly targeting Trump personally;

Second, Democrats also require that before the Commodity Futures Trading Commission (CFTC) passes new rules, Democratic commissioners must be appointed to fill vacancies at the agency.

Both of these contentious points may require concessions from the White House, and cryptocurrency insiders believe that these controversial points will be the final items negotiated by lawmakers in drafting the final bill.

On the legislative advancement front, Senator Cynthia Lummis stated that Coinbase CEO Brian Armstrong has demonstrated a more flexible attitude in recent negotiations, a shift that is significant.

Since Armstrong previously opposed earlier drafts, which caused Senate hearings to be blocked, his softened stance could now remove key obstacles to the bill's advancement, indicating that all parties are working to reach consensus.

Meanwhile, regulatory agencies are also actively cooperating with the legislative process. The SEC released its first crypto asset classification definitions this week, providing a clearer framework for industry regulation.

This statement indicates that regulatory agencies are preparing for the new legal framework and are willing to work closely with the legislative body to jointly promote healthy development of the US cryptocurrency market.

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