"Only Trump's Signature Left"...US Cryptocurrency Market Structure Bill Enters Final Legislative Countdown

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The US Cryptocurrency Market Structure Bill (CLARITY) has entered its final legislative stage, resolving key issues surrounding stablecoin yield payments.

Dan Gambardello, host of the cryptocurrency YouTube channel Crypto Capital Venture, analyzed the progress of the US Cryptocurrency Market Structure Bill in a video on May 2nd (local time) and discussed its potential impact on the market. Gambardello emphasized that unlike the GENIUS stablecoin regulation act, which passed during a market peak, this bill is being pushed forward at a time when the market is establishing a bottom.

The central issue of stablecoin yield payment methods was settled through an agreement between Coinbase and banking lobby groups. According to the agreement, issuers cannot offer or promote rewards simply for holding or staking stablecoins. Instead, only reward systems based on platform usage and actual participation are permitted. Patrick Wit, Chief Policy Officer at Coinbase, stated, “We accepted this agreement to maintain America's financial supremacy.”

The legislative process has also become clearer. Senator Tim Scott announced that the bill aims for US President Donald Trump's signature this summer. The Senate Banking Committee plans to review the bill during its weekly markup session on May 11th, followed by a full Senate vote and House passage between June and July.

The purpose of this bill is to clarify the legal status of digital assets, moving away from the enforcement-centric regulation of the US Securities and Exchange Commission (SEC). It distinguishes digital assets as either commodities or securities and grants spot market jurisdiction to the US Commodity Futures Trading Commission (CFTC), thereby overhauling the regulatory framework. It also includes safe harbor provisions for decentralized finance protocols and specifies that staking rewards are not securities.

By resolving regulatory uncertainty, a foundation for institutional capital inflow has been laid, and market structural changes are beginning to accelerate.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*