Lawmakers in Washington are close to reaching a final agreement on the Digital Asset Market Clarity Act, a bill that would create a comprehensive framework for regulating cryptocurrencies in the United States, according to a report. Preparing reports from CoinDesk Quoted from JPMorgan sources.
The bank said negotiations had entered a late stage, with most differences resolved and only a small group of issues still under discussion. One senior political official said the list of controversial topics had shrunk from about a dozen to just two or three, indicating a shift toward consensus after years of debate.
At the Legislation Center A Long term question About how oversight of digital assets is divided between federal regulatory agencies. The bill would formalize the jurisdictional boundaries between the SEC and CFTC, defining how cryptocurrencies, stablecoins, and decentralized finance platforms comply with existing financial law.
Legislators and industry participants have framed the measure as a critical step toward achieving regulatory certainty for a sector operating in a patchwork environment. Treasury Secretary Scott Besent and other officials have urged Congress to act, warning that the delay threatens to push innovation and capital into foreign markets with clearer rules.
One of the most sensitive issues in the negotiations was whether stablecoin issuers should do so or not Cryptocurrency submission is allowed Or return-like rewards for users. This debate has exposed a divide between cryptocurrency companies and traditional banks, which argue that such features can duplicate deposit receipts without the same guarantees provided by secured accounts.
Recent negotiations have resulted in a compromise that would ban negative returns while allowing activity-based rewards tied to payments and use of the platform. Policymakers participating in the talks said the framework balances banks’ concerns with the digital assets sector’s demands for product flexibility.
Cryptocurrency returns disputes may be close to being resolved
The debate over stablecoins has erupted alongside a broader political struggle. A White House economic analysis found that a yield ban would have a limited impact on bank lending, while reducing returns to consumers. In response, the American Bankers Association Argue The analysis failed to capture long-term risks, warning that yield-bearing stablecoins could take deposits away from community banks and raise funding costs for local lenders.
Despite these tensions, JPMorgan said the emerging settlement could attract support from both sides. The bank noted growing consensus on key provisions, including anti-money laundering standards, custody requirements and operational rules for exchanges and brokers.
Momentum has also been strengthened by previous legislative progress. House of Representatives Pass A version of the bill is due in 2025 with bipartisan support, and Senate negotiators are now working to finalize the language before potential committee markup.
The final text has not been published, and no date has been set for voting. Timing could be crucial as the 2026 midterm elections approach. A shift in control of Congress could change legislative priorities and slow progress on cryptocurrency policy.
