U.S. CLARITY Act Markup Approaches Amid Low BTC Options Volatility

The U.S. CLARITY Act markup is scheduled for later today, with Bitcoin (BTC) options continuing to exhibit compressed implied volatility. According to NS3.AI, short-dated contracts are near their year-to-date lows, and implied volatility has reached a historical low of 30%. The May 11 draft of the CLARITY Act proposes several significant changes, including a ban on interest for stablecoin balances. Additionally, it seeks to add the Treasury as a rule-making authority alongside the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The draft also includes a provision for a $5 million penalty for any violations.