Key Supporters, Including Coinbase, Experience Setback as Senate Banking Committee Cancels Hearing on "CLARITY Act" Amendment
BlockBeats News, January 15th, the Senate Banking Committee has canceled a scheduled hearing to amend and vote on comprehensive cryptocurrency legislation, following Coinbase's announcement that it is withdrawing support for the bill. It is currently unclear when the hearing will take place.
The Senate Banking Committee was originally set to hold a markup hearing on Thursday morning. The bill aims to clarify regulatory jurisdiction between the Commodity Futures Trading Commission and the Securities and Exchange Commission, define when digital assets should be classified as securities or commodities, and establish new disclosure requirements.
The text of the bill was released on Monday evening, with the deadline for amendments being late Tuesday night, paving the way for a vote on Thursday. However, cracks in the supporting coalition began to appear on Wednesday.
Key negotiator of the bill, Democratic Senator Ruben Gallego, revealed to reporters that he was supposed to meet with the President's Digital Asset Advisory Committee Executive Director Patrick Witt, but Witt did not show up. He stated that he is currently unable to support the bill.
Subsequently, Coinbase announced the withdrawal of its support. The company's CEO Brian Armstrong pointed out in a post on X platform that there are concerns about the provisions in the bill regarding stablecoin earnings, tokenized equities, and decentralized finance. However, other crypto companies and advocacy organizations still expressed support for the bill, stating that they will continue to push for the bill to become law in 2026.
You may also like
Do you want to buy CRCL?
Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity
The most secretive AI winner
Looking at Stripe's ambitions and the future of stablecoins from OUSD
From Pump.fun to Collector Crypt: Has Solana's income throne changed hands?
Dan Bin's latest speech: Don't miss out on a great era
Robinhood launches its own blockchain, no longer wanting to be a tenant on others' chains
Why Tokenized Stocks Are Booming in 2026 While Crypto Is Still Struggling
Former ByteDance employee's account: How I started with two Pinduoduo hard drives and made six times the profit with Seagate to achieve financial freedom?
MiCA reshuffle begins, Binance temporarily bids farewell to the EU
How does Gate redo "buying and selling stocks" from the cryptocurrency world to the stock market?
Visa and Mastercard join 140 giants to launch a new stablecoin, but the impact on the market landscape may still be limited
Circle CEO responds to OUSD's challenge: Stablecoins are a winner-takes-all business, and we will not slow down
Argentina vs Cape Verde: When a Record-Breaking Legend Meets an Unbreakable Underdog
WEEX exclusive pre-match analysis of Argentina vs Cape Verde, exploring Messi-led Argentina’s dominance and Cape Verde’s historic defensive breakout, with a breakdown of volatility, structure, and match dynamics.
WEEX Launches Depth Chart for Spot Trading
Raising interest rates to protect STRC and selling coins to maintain credit, this time the strategy has chosen the two most expensive paths
Morning Report | Samsung announces a 265.5 trillion won investment plan, focusing on semiconductor and AI computing power data centers; Vitalik publishes an article detailing the entire technology tree behind the confusion protocol (iO) mainline
In the era of AI, what is left of Bitcoin?
Do you want to buy CRCL?
Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity
The most secretive AI winner
Looking at Stripe's ambitions and the future of stablecoins from OUSD
From Pump.fun to Collector Crypt: Has Solana's income throne changed hands?
Dan Bin's latest speech: Don't miss out on a great era
