· The amendment was passed: An amendment proposed by Senator Cynthia Lummis was approved in the Senate Banking Committee with 19 votes in favor and 5 votes against. The amendment explicitly broadens the scope of crypto asset activities that banks and credit unions (as depository institutions) can participate in.


· New banking authority: According to the amendment, activities that banks can engage in include: decentralized finance (DeFi) trading, lending using crypto assets as collateral, direct trading of crypto assets, trading crypto derivatives, and more.
· Opposition voices: Senator Warren strongly opposed, warning that the amendment could trigger a collapse in the crypto market and drag down banks and the overall economy, arguing that the relevant provisions should be removed entirely rather than just "patched up."
· Current status: The "CLARITY Act" (Cryptocurrency Market Structure Act) is currently being reviewed and voted on clause-by-clause in the Senate Banking Committee. #Gate广场五月交易分享
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GateUser-c190bb60
· 2h ago
Steadfast HODL💎
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LittleGodOfWealthPlutus
· 2h ago
Good morning, fellow villager!
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HighAmbition
· 2h ago
thnxx for the update
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