House Republican French Hill Urges Senate to Pass CLARITY Act Amid Stablecoin Yield Dispute

U.S. House Republican leader French Hill called on the Senate to adopt the House-passed CLARITY Act on cryptocurrency market structure as legislative debates over stablecoin yields continue, ChainCatcher reported citing The Block. The bill cleared the House last year with bipartisan support from 78 Democrats but does not address the Senate's sticking point over stablecoin returns. Hill said if senators cannot reach a decision on stablecoin yields, they should move forward with the House version, adding that the Treasury Department could play a role as the OCC recently proposed rules for implementing the GENIUS Act and opened the proposal for public comment.