CLARITY Act Crypto-Bank Showdown Round 3 Set For Thursday Morning — Senator Moreno Predicts April Passage

• Senator Bernie Moreno told CNBC that the legislation could move through Congress by April if negotiators reach agreement.
• The crypto and banking industries face a February-end deadline set by Washington to reach an agreement. 
• The developments come as the odds of the CLARITY Act being signed into law this year on Polymarket rose to 90% from 60%, a day ago.

The White House is reportedly set to host a third round of crypto discussions on Thursday morning aimed at resolving outstanding disputes over the market structure bill tied to the CLARITY Act.

Senator Bernie Moreno told CNBC that the legislation could move through Congress by April if negotiators reach agreement. Coinbase (COIN) CEO Brian Armstrong added that the market structure bill for crypto is “making great progress” and he anticipates a “win-win-win” outcome.

Both sides face a February-end deadline set by Washington to reach an agreement. The developments come as the odds of the CLARITY Act being signed into law this year on Polymarket rose to 90% from 60%, a day ago.

Stablecoin Yield Debate Returns To White House

Crypto America’s Eleanor Terrett reported that the meeting is scheduled for 9 a.m. ET and will include a small group representing crypto firms and banks. It remains unclear what framework negotiators will use to restart talks, or whether the Digital Chamber’s proposal from last Friday, which would allow payment stablecoins to generate yield through a DeFi liquidity exemption, will serve as the basis. 

While banks have not formally endorsed the proposal, a source close to their side told Crypto America that it was “constructive,” but added that more details are needed around yield protections.

Crypto Markets Drift Amid Policy Uncertainty

The cryptocurrency market continues to trade rangebound on Thursday night. Bitcoin’s price dipped 1.1% in the last 24 hours to around $66,900, with altcoins taking a bigger hit. Retail sentiment around the apex cryptocurrency remained in ‘bearish’ territory over the past day, accompanied by chatter at ‘low’ levels.

Solana (SOL) led losses among crypto majors, down more than 4% in the last 24 hours and Ethereum (ETH) slid back below $2,000, down 0.9% in the last 24 hours, to around $1,975. The overall cryptocurrency market fell 1.4% in the last 24 hours to $2.37 trillion.

While many believe that the CLARITY Act advancement will provide a boost to cryptocurrency markets, Aurelie Barthere, principal research analyst at Nansen, forecasts  it may be temporary. In an email to Stocktwits, she said if the CLARITY Act advances and manages to push Bitcoin’s price above $70,000, it may still not be a sustained move, citing that broader sentiment would also need to improve.

Read also: Coinbase CEO Predicts ‘Win-Win-Win’ Result – CLARITY Act Approval Odds Climb to 90% On Prediction Markets

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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