Goldman Sachs CEO David Solomon discussed the impact of pending digital asset legislation on tokenization and stablecoins. A markup of the bill was postponed after Coinbase withdrew support, prompting concerns over SEC regulation of tokenized equities and stablecoin rewards. The Banking Committee may take weeks or months to reschedule the markup.

Banks are lobbying for amendments in the CLARITY Act to suit their interests, including the prohibition of interest-bearing stablecoins. Lawmakers are considering banning passive returns on stablecoin balances while allowing rewards on digital assets. The Senate Agriculture Committee is set to hold a markup on its version of the market structure bill on Jan. 27.

The Senate Banking Committee postponed the markup of the digital asset market structure legislation, causing uncertainty in the industry. No new date has been set for the markup, and Congress must pass a funding bill to avoid a government shutdown. Industry leaders are closely monitoring developments and lobbying for changes to the bill.

Read more at Cointelegraph: CLARITY Act ‘Has a Long Way to Go‘