White House Adviser Witt Blames Banks for Stalled CLARITY Act
- —CLARITY Act cleared committee but stalled in the Senate last week
- —Witt cited pushback from large banks as a key reason for the holdup
- —The bill included a ban on interest payments for certain stablecoins
- —U.S. agencies weigh promoting dollar-backed stablecoins via Treasury and State
Why it matters: The stalled bill leaves crypto firms facing regulatory uncertainty and slows institutional adoption of stablecoins in the U.S.
Source: CryptoNewsZ