Jason Brett

1 week ago | unchainedcrypto.com | Jason Brett

President Donald Trump’s stated goal of passing market structure cryptocurrency legislation by the August recess is in serious jeopardy. A spokesperson for Senate Banking Committee Chair Tim Scott (R-SC) confirmed to Unchained in an email this morning that while the senator plans to hold a hearing on the CLARITY Act next month, a markup session will not happen until the fall. These comments confirm a timeline that the senator shared in an interview with Bloomberg published Tuesday morning.

2 weeks ago | unchainedcrypto.com | Jason Brett

A bipartisan negotiation by House Republicans and Democrats to insert conflict-of-interest guardrails into the House crypto market structure bill, primarily intended to resolve Democratic concerns over President Trump’s crypto profiteering, ran into resistance from the White House on Tuesday evening during a key phase of negotiations, multiple sources familiar with the matter told Unchained.

1 month ago | unchainedcrypto.com | Jason Brett

After failing in a 48-49 procedural vote earlier this month, the GENIUS Act — a bill that would establish federal oversight of payment stablecoins — is getting a second chance today. The legislation returns to the Senate floor for another cloture vote at 5:30 p.m. ET following a week of bipartisan negotiations and a revised draft released over the weekend. Does that mean passage is likely? Actually, even though Democrats obtained several concessions, it’s a toss-up.

1 month ago | unchainedcrypto.com | Jason Brett

For almost a decade, Tether, the largest stablecoin issuer in the world, has dodged allegations of incomplete reserves and rumors because it operated in the shadows outside of regulation. And now Senate Republicans (and maybe Democrats) appear to be poised to remove that stigma by pulling Tether into U.S. jurisdiction. On Thursday, the Senate failed to push through a vote to try and begin formal debate on a newly revised version of the stablecoin bill.

1 month ago | unchainedcrypto.com | Jason Brett

Correction and updates, Saturday, May 10, 2025, 12:07pm ET: This article has been updated to state that a definition in the current form of the bill will not apply to DeFi. Unchained originally inaccurately reported that the bill would hurt DeFi. Unchained regrets the error. Additionally, this article has been updated to say that exclusions were added to the definition of a digital asset service provider, and a three-year compliance grace period was added for exchanges and custodians.