Clarity Act returns to centre stage Digital Assets Pulse

Research evidence excerpt

Clarity Act returns to centre stage Digital Assets Pulse

he details.

Today’s mark-up process is therefore a genuinely significant moment for digital asset legislation

in the US. Important hurdles remain, the timetable is tight, and the final outcome is far from

guaranteed. But the fact that Congress is now actively refining a workable market structure

framework marks a major evolution from the regulatory uncertainty that has constrained

adoption for years. For many institutions, large-scale deployment of tokenised money and

tokenised assets will depend not simply on technology readiness, but on the legal certainty that

legislation like the Clarity Act could provide.

Other noteworthy news

Banking lobby continues pushback against stablecoin rewards, The Block, 11 May 2026

In a letter to bank CEOs, American Bankers Association chief Rob Nichols said the Clarity Act

doesn’t go far enough to stop crypto firms offering “interest-like rewards” on stablecoins. He

warned that, without changes, the bill could encourage people to move deposits from banks into

payment stablecoins, which could hurt growth and financial stability. He also said the ABA

wants clear crypto rules in place. Banking groups have raised similar concerns over the past

year about the GENIUS stablecoin law, which bans issuers from paying interest but still allows

platforms like Coinbase to offer rewards. They say these incentives could drain deposits from

traditional banks, especially smaller community banks. Crypto firms say tighter limits on rewards

would slow innovation.

Bank of England Governor warns of US-Global clash on stablecoin rules, Reuters,

8 May 2026

Bank of England Governor Andrew Bailey said he expects a tussle between the US and

international regulators over how stablecoins should be treated.