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Coinbase executive says Crypto Clarity Act is ready for a vote next week
Coinbase Chief Policy Officer Faryar Shirzad said lawmakers are close to final action, despite some Democrats saying the bill still falls short.
Coinbase Chief Policy Officer Faryar Shirzad said the long-awaited Crypto Clarity Act is “extraordinarily bipartisan” and ready for final action, adding that a vote could come as soon as next week, according to Bitcoin Magazine.
Shirzad framed the next step as lawmakers uniting across party lines, telling Fox Business that the bill is ready for completion and expressing optimism it will move forward.
The bill, which has been under consideration since last year, would set in stone crypto regulation. Bitcoin Magazine also notes that a new draft circulated last week includes a ban on officials and their families from issuing or promoting crypto.
Still, the measure faces remaining opposition, including from Democrats who said the bill in its current form falls short. The article also points to a deadlock this year, with banking chiefs raising concerns about stablecoin yield and ethics, while Shirzad argued banks are already moving to adopt crypto technology and stablecoin systems.
The article further says top U.S. banks, including JP Morgan and Bank of America, have expressed interest or started debuting stablecoin products.
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