The White House Council of Economic Advisers will launch an interactive tool on Tuesday that lets users set parameters and run scenarios to support its conclusion that there is no material link between stablecoin growth and community bank deposit outflows. According to ChainCatcher, the move is aimed at helping Senate Republicans advance the CLARITY Act while addressing banking groups that said Monday the latest revisions still do not ease their concerns about stablecoin provisions.
Several Republican senators have signaled they may vote against the bill, while pro-crypto Democrats remain dissatisfied that the ethics provisions do not sufficiently constrain U.S. President Donald Trump. The bill needs at least 60 votes to advance.