[News Brief] Apr 22, morning | Coinbase CEO Says "CLARITY Act Is Ready for a Full U.S. Senate Vote"

Coinbase CEO Says "CLARITY Act Is Ready for a Full U.S. Senate Vote"

Coinbase's chief executive officer (CEO) said the CLARITY Act, a U.S. crypto market structure bill, has completed preparations for a full Senate vote.

According to Bitcoin Magazine, he said, "This bill is a meaningful compromise forged through thousands of hours of bipartisan discussions, and there is no better time than now."

The CLARITY Act is designed to clarify regulatory authority and market structure for digital assets in the United States, and the industry is closely watching whether it will reduce regulatory uncertainty.

U.S. Senate Digital Asset Regulation Bill Includes Provision Barring the President and Federal Officials From Issuing or Promoting Cryptocurrencies

A digital asset market regulation bill under review in the U.S. Senate includes a provision prohibiting the president and other federal government officials from issuing or promoting cryptocurrencies.

According to Odaily, Republican senators updated the text of the CLARITY Act on Wednesday. The bill is regarded as a major legislative effort to comprehensively regulate the U.S. digital asset market.

The new provision restricts federal officials, including the president, from profiting through cryptocurrencies and other digital assets. The specific enforcement mechanism and scope of application have not yet been disclosed.

U.S. Blockchain Regulatory Certainty Act Retains Framework Protecting Non-Custodial Developers and Infrastructure Providers

According to Odaily, crypto journalist Eleanor Terrett said the Blockchain Regulatory Certainty Act (BRCA) retains the same framework as the original version that passed the Senate Banking Committee in May.

The bill clarifies that non-custodial software developers and blockchain infrastructure providers should not be treated as money transmitters merely for building or maintaining decentralized networks.

The Lummis-Grassley amendment also remains, applying federal criminal liability to conduct that knowingly facilitates illicit transactions.

At the same time, provisions related to the "Keep Your Coins" bill remain unchanged, guaranteeing users' rights to self-custody their digital assets.

Regarding stablecoin-related earnings, the bill prohibits companies from paying interest on users' idle stablecoin balances, but allows rewards tied to actual activity such as trading or staking, so long as they are not economically or functionally equivalent to bank deposit interest.

The bill also adds support for state and local virtual asset investigations and blockchain analytics tools, training programs for law enforcement and prosecutors, and the establishment of a cyber center to respond to threats from state actors such as North Korea and Iran.

It also includes provisions requiring customer digital assets held by exchanges or custodians to remain customer property, rather than becoming part of a company's bankruptcy estate, in the event of bankruptcy, in an effort to prevent a repeat of FTX-like losses.

Iranian Side Says, "If We Cannot Sell Oil, No One Will"

According to Watcher.Guru, Ghalibaf of Iran said, "If Iran cannot sell its oil, then no one will."

The remark is being interpreted as a message that could heighten concerns about disruptions to oil supply amid ongoing tensions between the United States and Iran.

953 BTC Transferred From Anonymous Wallet to Coinbase

According to Whale Alert, 953 BTC, worth about $63.22 million, was transferred from an anonymous wallet to Coinbase.

Large BTC transfers to an exchange can be interpreted as a sign of potential selling pressure. However, it has not been confirmed whether the transferred amount was actually sold.

Token Outflow Raises Possibility of Internal Manipulation

On-chain investigator Spector said the recent token outflow incident is more likely to have involved internal manipulation.

According to Odaily, Spector analyzed that the address which transferred the tokens had been granted the necessary permissions since 2025, and those permissions were revoked only after the token outflow occurred.

U.K. Pushes to Issue Its First Tokenized Government Bond in 2027

According to Odaily, the United Kingdom is pushing to issue its first tokenized government bond in early 2027.

The key issue is solving the challenge of on-chain cash settlement, which has limited institutional use of digital bonds. Industry experts believe the plan is likely to continue despite recent political changes, given strong support from HM Treasury, the Bank of England, and regulators.

The issuance is also expected to boost demand for U.K. government bonds. However, the lack of standardized on-chain settlement methods, a mature pound-denominated stablecoin, and regulatory clarity are cited as factors currently limiting progress.

Revolut Valued at $115 Billion

According to Odaily, fintech company Revolut was valued at $115 billion in a secondary share sale for employees, making it Europe's largest private company.

Revolut said it recorded $2.3 billion in pre-tax profit and $6 billion in revenue in 2025. Its main app supports trading in more than 200 cryptocurrencies, withdrawals to external wallets, and staking of held assets, while it also operates a separate cryptocurrency exchange, Revolut X.

Revolut previously obtained a full U.K. banking license and is now pursuing a nationwide banking license in the United States. The company has set a target IPO valuation of $200 billion.

U.S. House Set to Vote on Bill Banning Insider Trading by Members of Congress

Watcher.Guru reported that the U.S. House of Representatives is set to vote on a bill banning insider trading by members of Congress.

The bill is interpreted as a measure aimed at reducing controversies over lawmakers trading on non-public information and strengthening market trust.

Grayscale Says BTC May Have Bottomed If the Fed Does Not Hike Further and Growth Remains Stable

Grayscale's head of research, Zach Pandl, said Bitcoin may already have bottomed if the Federal Reserve does not implement further rate hikes and economic growth remains stable.

According to Odaily, Pandl explained that the market is divided between two views on when Bitcoin's bear market ends: the "four-year cycle" view and the "macro-driven asset" view.

The four-year cycle theory sees the halving as the key driver of the price cycle, and based on past cases, holds that Bitcoin formed its bottom about one year after its peak and about two years and six months after the halving. Under this view, further downside may still remain in the current cycle.

By contrast, Pandl placed more weight on the interpretation that Bitcoin is increasingly influenced by economic growth, real interest rates, and changes in Fed policy, similar to other major assets. He analyzed the recent decline as the result of rising expectations for rate hikes combined with higher real interest rates.