CLARITY Act Stalls in Senate as $1.29 Trillion Bitcoin Gains Edge Over Stablecoins
Updated
Updated · The Motley Fool · Jul 19
CLARITY Act Stalls in Senate as $1.29 Trillion Bitcoin Gains Edge Over Stablecoins
3 articles · Updated · The Motley Fool · Jul 19
Summary
$1.29 trillion Bitcoin stands out as the main beneficiary of the Senate impasse, with the CLARITY Act still stuck after clearing the House last July.
The bill is stalled by disputes over stablecoin yields—which banks say threaten deposits—and over disclosure rules for public officials' crypto holdings.
That leaves stablecoins such as USD Coin and altcoins including XRP and Solana waiting for clearer federal rules, while Bitcoin already has broader acceptance as a digital commodity.
More than 20 million of Bitcoin's 21 million maximum supply have been mined, and spot ETF approvals in early 2024 have widened retail and institutional access.
With its next halving due in 2028 and less reliance on new legislation, Bitcoin is positioned as a relative safe-haven if crypto regulation remains deadlocked.