Jaret Seiberg: Crypto Market Structure Act faces significant obstacles

According to The Block, Jaret Seiberg, Managing Director of TD Cowen, stated that the US Senate Banking Committee will vote on the CLARITY bill on May 14th, but the bill still faces significant obstacles, including issues with stablecoin returns and ethical or conflict of interest provisions. Even if approved by the committee, it still needs to be merged with the Agriculture Committee version and receive 60 votes in the Senate. Seiberg pointed out that the issue of stablecoin returns is difficult to simultaneously meet the needs of Coinbase, the cryptocurrency industry, and banks, and Congress usually avoids making choices between powerful interest groups.