A new 'Innovation Exemption' from the U.S. Securities and Exchange Commission could pave the way for blockchain-based versions of traditional equities, according to CNBC.
A Senate cloture vote on the Clarity Act failed Tuesday, preventing the cryptocurrency industry's bid for comprehensive regulatory rules from advancing.
Senator Elizabeth Warren plans to criticize the ethics proposal included in the Clarity Act, which has been endorsed by President Trump, before a key preliminary Senate vote.
CNBC reports the president has accepted ethics requirements in a crypto market structure bill as Republicans seek bipartisan support in the Senate, while community banks warn of deposit flight to stablecoins.
The Clarity Act, aimed at setting rules for digital assets, faces a Senate vote as lawmakers weigh concerns from community banks over stablecoin competition for deposits.