Cody Carbone of the Digital Chamber testified before the Senate Banking Committee on Tuesday, arguing that the absence of a scheduled CLARITY Act floor vote is perpetuating financial friction costs that disproportionately burden lower-income Americans. No Senate floor vote has been calendared as of the testimony date, leaving stablecoin issuers and their institutional partners operating under continued regulatory uncertainty.
For Armada's crypto desk, the unresolved legislative timeline means clients holding stablecoin or tokenized T-Bill collateral face an unclear regulatory environment for collateral portability and reserve backing requirements. Armada should track whether CLARITY's reserve mandate provisions would impose new haircut or eligibility criteria on stablecoin-denominated collateral accepted in crypto repo transactions.