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CLARITY Act Deadlock: Banks vs Crypto in the Stablecoin Fight
Audio is available on Spreaker — see link below.
The US banking lobby has hardened its position against the CLARITY Act, demanding stablecoin amendments that Coinbase is flatly rejecting — while SAB 121 keeps banks structurally disadvantaged. Meanwhile, Sub-Saharan Africa's mobile money ecosystem hits 40% adult penetration, signalling a shift from financial inclusion to economic infrastructure.
Audio is available on Spreaker — see link below.
The US banking industry just escalated its war against the CLARITY Act, and the specific weapon they're pointing at is a three-digit SEC rule most people have never heard of. SAB one-twenty-one.
Major US banks have now submitted detailed amendment requests to Senators Tillis and Alsobrooks, the architects of the current Senate compromise framework. The banks argue the bill's stablecoin yield rules don't do enough to protect deposits from non-bank competitors.
The crypto sector's response was immediate and direct. Coinbase Chief Policy Officer Faryar Shirzad rejected the bank amendments outright, framing them as self-interest dressed up as systemic risk concern.
President Trump has publicly framed the CLARITY Act as a national security priority. That's not incidental.
Away from Washington, there's a different kind of structural shift worth tracking. Sub-Saharan Africa's mobile money ecosystem has crossed a threshold.
The near-term watchpoints are clear. First, whether the CLARITY Act's sponsors attempt to absorb, deflect, or ignore the banking lobby's amendment demands.
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