The US CLARITY Act, the most anticipated crypto bill in the United States, is now seen as closer to passage.
Pro-crypto senator from Ohio, Bernie Moreno, expressed his confidence that the bill could pass Congress as early as April.
In an interview with CNBC at Donald Trump’s Mar-a-Lago residence, Moreno explained that the direction of the law is becoming clearer after discussions involving crypto industry players, the banking sector and members of Congress.
Also present at the discussion was Coinbase CEO Brian Armstrong, who previously withdrew support for an earlier draft of the CLARITY Act.
Among the main issues are a ban on stablecoins that offer interest and a proposal to make the US Securities and Exchange Commission (SEC) the main regulator of the crypto industry.
But now, Armstrong sees a “solution” that could be a win-win for the crypto industry, banks and American consumers.
The most sensitive issue so far is interest rewards for stablecoins, which are feared to disrupt the traditional banking system.
Moreno, however, believes that the issue should not be a major obstacle to the passage of the law.
Market confidence was also evident when crypto prediction platform Polymarket showed the probability of the CLARITY Act passing skyrocketed before slightly declining.
If passed, the CLARITY Act is expected to be an important foundation in establishing a clearer crypto regulatory framework in the United States and thus supporting the aspiration of making the country a global crypto hub.
