UPDATE: US CLARITY Act crypto bill bogs down in Congress amid "four-way deadlock"

The CLARITY Act, a proposal aimed at bringing clearer rules to US crypto markets, has stalled in Congress after four rival blocs each asserted effective veto power over the bill's final language, CryptoSlate reported. Supporters in the Senate and across the industry are seeking a federal framework that would give crypto firms a regulated path forward. Bank-aligned opponents are pushing to shield deposit economics from potential disruption tied to stablecoin yield. The SEC and CFTC are moving on separate tracks, signing a new memorandum of understanding and issuing updated crypto guidance. Critics focused on the bill's structure say it would weaken core investor protections. With each camp holding enough leverage, momentum has slowed and the legislation could be delayed or blocked entirely.