);)
Coinbase CEO Brian Armstrong said on the 16th that the current draft of the CLARITY Act is inadequate for consumers and industry, and he expects the Senate to resume markup within weeks, based on a revised new draft.
The remarks highlight how disagreements over DeFi and stablecoin regulation, as well as the allocation of oversight authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), are weighing on the legislative schedule.
2. Bank of America warns against stablecoin deposits.
Bank of America CEO Brian Moynihan said in a statement on the 16th that if interest-bearing stablecoins are allowed, up to $6 trillion (8,832 trillion won) of deposits could be withdrawn from U.S. banks.
CEO Moynihan stressed that the trend could lead to a reduction in lending to small and medium-sized enterprises and an increase in borrowing costs, and that the question of whether to allow stablecoin yields has emerged as a key issue in the US Congress' discussion of the cryptocurrency market structure bill.
3. West Virginia, US, pushes for Bitcoin investment legislation.
West Virginia Senator Chris Rose introduced a bill on the 16th that would allow the state treasury to invest up to 10% of its assets in cryptocurrencies with a market capitalization of over $750 billion.
Currently, the only asset that meets the criteria is Bitcoin (BTC), and the bill is seen as an attempt to incorporate cryptocurrencies as inflation-protected assets at the state level.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
