On the eve of the CLARITY vote: the dispute between stablecoins and bank deposits, with the bill urgently adding a “circuit breaker mechanism”
U.S. digital asset market structure legislation is at the final stage.
The U.S. Senate will hold a key procedural vote on the CLARITY Act on September 15, needing 60 votes to move forward.
On the night before the vote, a question that had already been debated for months once again became the focus: would stablecoins pull money out of bank deposits?
Bessent: If stablecoins harm community banks, the Treasury will step in. On September 14, ahead of a key procedural vote on the CLARITY Act, U.S. Treasury Secretary Scott Bessent publicly supported the final draft of the bill. His core position was very clear: “The CLARITY Act is critical to ensuring America wins the global race for new technology.” “The CLARITY Act is critical to ensuring America wins the global race for new technology.”