SEC, CFTC strike cooperative tone ahead of White House crypto meeting

SEC Chair Paul Atkins and CFTC Chair Mike Selig spoke on CNBC on Thursday as debate continues over stablecoin yield in the CLARITY Act.

US Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Mike Selig appeared on CNBC’s Squawk Box on Thursday to discuss the crypto market structure bill and a White House–hosted meeting scheduled for Monday.

The bill was recently held up in the Senate, where it is undergoing committee review after being passed in the House of Representatives, with lawmakers working through unresolved issues on the Agriculture and Banking Committees.

One of the central sticking points in the legislation is how stablecoin yield should be treated, an issue that has divided traditional banks and crypto companies. Coinbase recently withdrew support for the bill, citing concerns over several provisions, including those related to yield.

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