Gate News reports that as of March 20, negotiations on the U.S. Crypto Market Structure Bill, the CLARITY Act, have been ongoing for several weeks and are now close to an “almost finalized” stage. Sources say the revised legislative text was submitted to the White House for review on Thursday, and Senate Banking Committee Republicans held a meeting the same day to discuss how to bridge the final differences. A long-standing dispute over stablecoin yields is nearing resolution, but lawmakers are still debating what additional concessions can be offered to community banks in exchange for their support, possibly including provisions related to recent housing legislation. Democrats continue to demand a ban on government officials profiting from personal crypto interests (primarily targeting Trump) and want Democratic commissioners to be appointed to fill vacancies before the CFTC implements new regulations. Senator Lummis noted that a certain CEX CEO has been more flexible in recent negotiations. Meanwhile, the SEC released its first classification definition for crypto assets this week. SEC Chair stated that only Congress can rewrite laws, but until then, regulators are providing a responsible regulatory pathway needed by the market.
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