Rushed CLARITY Act vote could set legislation back, Gallego warns
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The probability of the Clarity Act being signed into law in 2026 has risen to 52%.
According to data from Polymarket, as reported by Mars Finance on July 5th, the probability of the Clarity Act being signed into law in 2026 has risen to 52%, an increase of 12 percentage points from July 3rd. In related news, the Major County Sheriffs Association (MCSA) stated that it no longer opposes the Clarity Act after initially expressing concerns about how it would affect investigations into illicit finance. Analysts believe that the MCSA's change of stance reduces a key obstacle in the Clarity Act's progress, increasing its likelihood of reaching the Senate vote. However, opposition from the banking industry to stablecoin yield products and DeFi regulation remains a major uncertainty.
After ongoing discussions on Section 604, the MCSA has shifted to a neutral stance on the Clarity Act.
According to an article published on the X platform by a Fox Business Odaily reporter, the Major County Sheriffs of America (MCSA) has shifted to a "neutral" stance on the Clarity Act after recent ongoing discussions surrounding Section 604, the Blockchain Regulatory Certainty Act. In a letter to the Senate Banking Committee leadership, the MCSA stated that, based on its ongoing review of the bill, there remains an opportunity to further strengthen the legislation in a way that supports responsible innovation and addresses the practical needs of state and local enforcement.
FalconX, Ethena bring USDe backing assets into $1B institutional credit facility
The $1 billion facility will deploy assets backing USDe into overcollateralized institutional loans, expanding Ethena’s sources of returns beyond crypto basis strategies.
Harmony plans rollback, wiping 109,000 transactions after ONE exploit
Harmony said selectively restoring transactions could create inconsistent chain state, as Ravencoin faces a separate rollback dispute after an exploit.
*SEC Poised To Unveil Major Crypto Plans As Clarity Act STALLS: BBG
TreeNews News, *SEC Poised to Unveil Major Crypto Plans as Clarity Act STALLS: BBG
RWA perpetual contract trading volume surpassed $100 billion for the first time in June, setting a new record.
PANews reported on July 8 that, according to Cointelegraph, DefiLlama data shows that RWA perpetual contract trading volume exceeded $100 billion for the first time in June, setting a new record.