The Senate Banking Committee schedules a markup hearing for the bill, advancing White House’s July 4 passage target after stablecoin yield compromise.
The Senate Banking Committee will hold a markup hearing for the Digital Asset Market Clarity Act on May 14, marking its most concrete legislative step to date. The White House aims for full passage by July 4, with the hearing bringing that goal closer after months of delays over stablecoin yield rules.
A compromise reached by Senators Tillis and Alsobrooks resolved the stalemate by banning passive yield on stablecoin balances while allowing activity-based rewards. Polymarket odds of passage surged to 79% before retreating, reflecting market sentiment around the bill’s progress.
BTC traded at $81k amid broader crypto gains, while VVV surged 90% over the week to $17.60. Circle also raised $222M in an Arc presale at a $3B valuation.