The Congressional Research Service has identified 11 categories of crypto activities that the Senate-reported CLARITY Act would permit for U.S. banking organizations and credit unions, including digital asset underwriting and dealing.
Summary
- 11 crypto activity categories would become permissible under the Senate-reported text, according to CRS.
- The report says proposed underwriting permissions exceed banks’ authority in comparable traditional securities markets.
- Banking associations have opposed stablecoin rewards they believe could draw deposits away from lenders.
- Federal Reserve stablecoin rulemaking has continued under the GENIUS Act despite the stalled CLARITY…
