The White House Council of Economic Advisers is set to launch an interactive tool on Tuesday that will let users adjust assumptions and run their own scenarios tied to the stablecoin debate. The tool is meant to support the council’s earlier conclusion that there is no material link between stablecoin growth and deposit outflows from community banks. The move comes as the administration tries to win over Senate Republicans for the CLARITY Act and push back on criticism from banking groups, which said Monday that the bill’s latest revisions still do not resolve their concerns about the stablecoin provisions. The politics around the measure remain unsettled. Several Republican senators have signaled they may vote against advancing the bill, while crypto-friendly Democrats are also dissatisfied, saying the ethics language does not place enough limits on Donald Trump. Under current Senate rules cited in the report, the legislation needs at least 60 votes to move forward.
The White House Council of Economic Advisers, or CEA, will launch an interactive tool on Tuesday that allows users to set their own parameters and run scenarios, according to BlockBeats.
The tool is designed to back the council’s earlier conclusion that there is no material connection between stablecoin growth and deposit losses at community banks.
Push tied to the CLARITY Act
The move is aimed at winning support from Senate Republicans to advance the CLARITY Act. It also serves as a response to banking industry groups, which said on Monday that the bill’s latest revisions still fall short of addressing their concerns over the stablecoin provisions.
Vote count remains uncertain
Several Republican senators have indicated they may vote no. At the same time, crypto-friendly Democrats are unhappy with the ethics provisions, arguing that the language does not place sufficient constraints on Trump.
The bill needs at least 60 votes to advance.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
