Senator Lummis said the Senate will vote on the Digital Asset Market Clarity Act before the recess. The bill still faces hurdles including Democratic objections to ethics provisions and the 60-vote threshold required to advance.
Weekly stablecoin inflows to exchanges surged from $51B to $98B, signaling dip-buying appetite. Eleven European banks including BBVA and BNP Paribas launch Qivalis for a euro stablecoin. U.S. Senator Lummis pushes bank adoption amid deposit flight concerns.
Senator Cynthia Lummis announces plans for the Responsible Financial Innovation Act 2026, which would permit major banks to offer digital asset custody, staking, and payment services under regulatory oversight, aiming to integrate crypto into the mainstream financial system.
The U.S. Marshals Service liquidated $6.3 million worth of forfeited bitcoin from Samourai Wallet developers, possibly breaching Executive Order 14233 on the Strategic Bitcoin Reserve. Senator Lummis raised alarms; SDNY’s long record of ignoring federal crypto guidance draws renewed scrutiny.
A gap in the GENIUS Act let exchanges offer stablecoin rewards after issuers were barred from paying yield. Banks want the CLARITY Act to close it, but Coinbase has rejected the latest compromise language.
The U.S. Federal Reserve proposed removing 'reputation risk' as a bank supervision factor, aiming to end Operation Chokepoint 2.0. Senator Lummis praised the move, which may ease debanking pressures on crypto firms.
Senator Cynthia Lummis confirmed at the DC Blockchain Summit that the Senate Banking Committee will advance the CLARITY Act markup after Easter. Stablecoin yield and DeFi rule disputes have been resolved, though coordination with the agriculture panel and an ethics issue still need to be addressed.
Senator Lummis criticizes the DOJ for selling 57.55 BTC seized from Samourai Wallet developers, calling it a violation of Executive Order 14233. The market remains stable with BTC at $93,299 and total crypto cap at $3.26 trillion.
