According to TD Cowen’s Washington Research Group, the Senate Banking Committee’s scheduled vote on the Clarity Act on May 14 does not guarantee the crypto bill will become law. Managing director Jaret Seiberg said the vote shifts the fight to the full Senate rather than signals a deal, as major obstacles remain including disagreements over stablecoin yield treatment and ethics provisions. The bill requires 60 votes to pass in the full Senate and must advance before the August recess to be enacted this year, Seiberg noted.
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