Yield provisions or adjustments, CLARITY Act faces banking lobbying and opposition from some Republicans

Odaily reported that a Fox Business crypto journalist posted on X, stating that Lummis said Senator Hawley is “very resistant.” Hawley did not vote in support of the GENIUS Act and is expected not to vote in favor of the CLARITY Act either, although discussions with his office are reportedly still ongoing.

Other Republican resistance appears to come from concerns in the banking industry over the stablecoin yield provisions in the bill. According to the Fox Business crypto journalist, an industry insider familiar with the situation said yesterday that, given banking lobby pressure and concerns from some Republicans, the yield provisions will likely be at least partially revised before the bill is brought to a Senate floor vote. However, it remains unclear whether those revisions will be sufficient to satisfy the banking industry.