Senator Lummis says delay likely for market structure bill: Bloomberg

The debate over DeFi and stablecoin reward provisions in the CLARITY Act is at risk of holding the bill back as banking and crypto stakeholders push competing agendas.

US Senator Cynthia Lummis reportedly expects the US Senate Banking Committee to delay its hearing on crypto market structure legislation after Coinbase withdrew support for the bill.

There were already some murmurs of a CLARITY Act Senate markup delay on Wednesday, which were heightened following an X post from Bloomberg reporter Steven Dennis on Wednesday night, stating:

Lawmakers have been consulting with members of the banking and crypto industries over provisions of the CLARITY Act for several weeks.

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