Overview
- Senate Banking postponed its CLARITY Act markup, with Chair Tim Scott calling it a brief pause as talks continue in good faith.
- Coinbase withdrew support hours before the markup, citing limits on stablecoin rewards, tokenized equities concerns, DeFi language, and SEC/CFTC balance.
- Ripple, a16z, Kraken, Coin Center, Circle and the Digital Chamber urged lawmakers to proceed with the markup and keep negotiating rather than abandon the effort.
- A White House adviser accused Senate Banking Democrats of bad faith, alleging plans to block or gut the bipartisan draft before the delay.
- Insiders say the tokenized securities section (Section 505) could be revised or removed as negotiations continue, and crypto stocks and coin prices fell after the postponement.