The post CLARITY Act News: Lummis Slams Democrats As Crypto Tax Reform Gains Urgency appeared first on Coinpedia Fintech News

The Blockchain Association has urged Congress to overhaul US crypto tax rules while the CLARITY Act remains stuck in the Senate. The industry group said current tax requirements for digital assets are hard to follow and need clearer guidance. Its proposals include a tax exemption for small transactions with network fees of $10 or less, …

The post White House Blames Democrats After Senate Blocks Crypto Clarity Act appeared first on Coinpedia Fintech News

The White House clearly blamed Senate Democrats after the Crypto Clarity Act was blocked in a 49–50 vote, accusing them of “putting partisan games ahead of American technological dominance.”  But the concerns raised over President Donald Trump’s crypto profits and demands for stronger ethics rules also played a major role in the opposition. White House …

The post Coinbase Reveals What Really Killed The CLARITY Act appeared first on Coinpedia Fintech News

Not the banks. Not the stablecoin rewards fight everyone was watching for months. In his first interview since the Senate’s 49-50 vote, the Coinbase CEO pointed somewhere else entirely. Here’s what most people don’t know. The White House actually put a genuine ethics deal on the table. Real restrictions on the president and elected officials …

The post Bitcoin Price Faces FOMO Flush as Hashrate Turns Higher appeared first on Coinpedia Fintech News

Bitcoin price action got a reality check this week. On September 14, Santiment Insights described extreme FOMO across the crypto community as bullish narratives surged around expectations for a favorable CLARITY Act outcome. The warning was about euphoria itself, regardless of how the decision eventually turned out. Bitcoin FOMO Collapsed After CLARITY Act Setback The …

The post CLARITY Act Update: 7 Democrats Reverse Course Days After Blocking Bill appeared first on Coinpedia Fintech News

A group of seven Senate Democrats, including Gillibrand, Alsobrooks, Booker, Cortez Masto, Warner and Warnock, released a statement saying they “remain committed” to enacting the CLARITY Act, just two days after not a single Democrat voted to advance the bill.

The post CLARITY Act Update After Failure: SEC Chair Breaks Silence, Says ‘Stay Tuned’ appeared first on Coinpedia Fintech News

SEC Chairman Paul Atkins thanked everyone involved in pushing the CLARITY Act forward, across the administration, Congress, investors and innovators, while confirming the SEC will move ahead regardless of the bill’s outcome. “I have been unequivocal: with or without legislation, we will act decisively within the SEC’s statutory authority to deliver certainty for American investors …

The post CLARITY Act: CZ and Brian Armstrong Say Crypto Progress Will Continue appeared first on Coinpedia Fintech News

Binance co-founder Changpeng Zhao said the CLARITY Act setback will not stop crypto development, arguing that technological progress will continue. Coinbase CEO Brian Armstrong also said the Senate’s failure to advance the bill was disappointing but argued that the SEC and CFTC can create clearer rules under existing authority. Armstrong added that the GENIUS Act …

The post What Time is Clarity Act Vote Today appeared first on Coinpedia Fintech News

CLARITY Act is scheduled for 2:15 p.m. ET on September 15. This is a procedural cloture vote, not the final vote on the bill. The Senate needs 60 votes to advance the legislation to floor consideration. If cloture passes, senators can move toward debate and amendments. A separate final-passage vote would come later.

The post Bank Groups Say CLARITY Act’s Stablecoin Circuit Breaker Is ‘Not a Safeguard at All’ appeared first on Coinpedia Fintech News

Eight major banking groups are warning that the revised CLARITY Act could create this risk if stablecoin rewards work like bank interest. The banks say the bill’s “circuit breaker” may come too late to stop deposit losses and lending problems.  The letter comes ahead of a key Senate procedural vote scheduled for 15 September. Eight …

The post Will the CLARITY Act Pass the Senate Today? appeared first on Coinpedia Fintech News

Connor Brown, Executive Director of the Bitcoin Policy Institute and a former Senate staffer, laid out exactly what’s at stake as the Senate holds a cloture vote today on the CLARITY Act.  Republicans control 53 seats, with two possibly sitting out, meaning 7 to 9 Democrats need to cross the aisle to reach the 60 …