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Highlights
- GOP’s push for anti-CBDC language could delay the CLARITY Act’s release.
- Rep. Harris confirms GOP’s commitment to adding anti-CBDC provisions.
- GOP leadership explores alternative paths for anti-CBDC provisions, including the NDAA.
A new push to add anti-Central Bank Digital Currency (CBDC) language to the Digital Asset Market Clarity Act (CLARITY) could delay the bill’s release. According to sources familiar with the matter, the discussions on market structure were expected to be finalized this week but now may face additional hurdles.
CLARITY ACT Could Face Delay, Here’s Why
According to ex-Fox journalist Eleanot Terrett, several Republicans who initially voted against the CLARITY Bill have reportedly changed their stance following a meeting with President Donald Trump. A key element in their decision was the inclusion of stronger anti-CBDC language in the bill. According to sources, these members agreed to support the legislation under the condition that these provisions would be added to the bill.
Rep. Chip Roy, one of the Republican holdouts, stated, “There was some sort of an agreement that doesn’t appear to exist anymore,” when asked about the situation. It is unclear if he was referring to a deal struck at the White House meeting, but his comments highlight the complexity surrounding the negotiations.
Rep. Andy Harris, a member of the House Freedom Caucus,
“Under this agreement, the Rules Committee will reconvene later today to add clear, strong anti-CBDC provisions to the CLARITY legislation,” Harris said in a statement.
The push to add anti-CBDC language has led to behind-the-scenes discussions between key Republican members. These include Reps. French Hill, Bryan Steil, and Glenn Thompson, the authors of the CLARITY Act, who were not part of the talks involving Trump. Some members believe that modifying CLARITY Act bill by adding anti-CBDC provisions could jeopardize the broader bipartisan support for the bill.
Potential for Revisions to the CLARITY Bill
While the Rules Committee had initially scheduled a meeting to review and possibly add anti-CBDC provisions to CLARITY, it remains unclear whether that will happen. According to reports, Republican leadership is now considering other paths for addressing anti-CBDC concerns, including the possibility of incorporating the language into the National Defense Authorization Act (NDAA).
Eleanor Terrett, provided an update from Capitol Hill, explaining that GOP Senate staffers are hopeful the House will pass something soon to ensure that cryptocurrency legislation can progress.
“We’re just hoping the House can move something, anything, so crypto legislation can survive to the next step,” a Senate staffer told Terrett.
However, these last-minute changes may risk further delays. Some members of Congress are cautious about pushing anti-CBDC measures too aggressively. Making such additions might hurt the already fragile ties with Democrats, and in particular, those who approve of the overall aims of the bill, such as clarifying the duties of the SEC and CFTC in digital assets regulation.
House Faces Pressure Amid Ongoing Debates
The ongoing debates in the House have led to extended floor proceedings as Republican leadership attempts to balance competing priorities.
While the procedural vote to advance the GENIUS Act cleared a major hurdle, advance the bill cleared a major hurdle, the vote to formally adopt the resolution fell short earlier this week, stalling progress. This has left lawmakers questioning how to proceed.
The inclusion of anti-CBDC language in the bill is seen by some members as critical to maintaining Republican support. There is mounting fear though that such additions will drive away Democrats who are important in the passage of the bill.
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