The recent withdrawal of the Banking Committee's markup has left industry players, lawmakers, and staffers assessing the situation, with many expressing frustration over the proceedings. Despite the setback, there is optimism that a deal on yield between banks, Coinbase, and Democrats could revive the bill. The tokenized securities issue, involving a study and potential SEC and CFTC rulemaking, is seen as less contentious, with stakeholders like Brian Armstrong hopeful for significant changes or removal of the section.
Ongoing discussions between the White House and the Senate continue to address ethics issues. Meanwhile, questions remain about the impact of the Banking Committee's actions on the Agriculture Committee's timeline. However, sources suggest that a successful bipartisan deal in Agriculture could facilitate smoother progress in Senate Banking, as evidenced by the House's previous bipartisan success with the Clarity Act.
Banking Committee's Pulled Markup Spurs Industry Reactions and Future Prospects
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