Senate Democrats review crypto bill as a16z backs CLARITY Act; Polymarket shows 69% odds of passage by 2026.
Senate Democrats met to discuss the path forward for the US Senate crypto bill as pressure builds ahead of a March 1 deadline set by the White House.
At the same time, venture capital firm Andreessen Horowitz, known as a16z, briefed Republican senators on the CLARITY Act and artificial intelligence policy.
The talks come as lawmakers weigh stablecoin rules and market oversight while betting markets show rising odds for the bill’s passage.
Democrats Review Path Forward on Crypto Bill
Senate Democrats held a meeting to consider advancing the Digital Asset Market Clarity Act.
The bill aims to define oversight roles between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
It also seeks to set clearer standards for crypto exchanges and token issuers.
The White House asked lawmakers to resolve disagreements before March 1. The main dispute centers on stablecoin yield rules.
Some Democrats support stricter safeguards and closer alignment with banking laws.
Senate committees have proposed separate versions of the legislation. Lawmakers are discussing whether to merge the Banking and Agriculture Committee drafts.
Progress depends on bipartisan agreement and changes to stablecoin provisions.
a16z Urges Republicans to Back CLARITY Act
Andreessen Horowitz executives met with Senate Republicans to discuss crypto and AI policy.
Marc Andreessen and Chris Dixon attended the meetings. They encouraged lawmakers to pass the CLARITY Act and support US leadership in both sectors.
Collin McCune, head of government affairs at a16z, commented on the discussions. “Great meeting.
Today was primarily about the path forward for crypto market structure legislation. AI came up too. Importantly the U.S. remains the global leader for both technologies,” he said.
Republican lawmakers have generally favored lighter regulatory approaches. They argue that clearer rules can attract innovation and investment.
The meetings focused on aligning crypto market structure with broader technology goals.
Stablecoin Debate and Market Odds
Stablecoin yield rules remain a key point of disagreement. Coinbase CEO Brian Armstrong and other industry leaders have opposed strict limits on yield offerings.
Banking groups have raised concerns about competition and financial risk.
The Office of the Comptroller of the Currency has introduced the GENIUS Act proposal.
The proposal would allow banks to issue stablecoins but would prohibit yield payments. Lawmakers continue to negotiate how these provisions fit into the broader bill.
Prediction market Polymarket shows rising expectations for passage. Odds that the CLARITY Act will be signed into law in 2026 stand at 69%.
The increase follows recent Senate meetings and industry outreach, though final approval requires bipartisan support.
Source: https://www.livebitcoinnews.com/senate-crypto-showdown-dems-meet-as-a16z-pushes-clarity-act/
