Crypto Regulation News! Clarity Act, Banks Stablecoin Yield, Anti-CBDC Bill, & SEC Clarity - Ron Hammond

March 19, 2026

AI Summary

5 min read

Ron Hammond, head of policy and advocacy at Wintermute, joins host Tony Edward to assess recent U.S. crypto regulation developments, focusing on the Clarity Act's path, bank-industry tensions over stablecoin yields, agency guidance, and related bills amid an election year.

Clarity Act Timeline and Risks

The Clarity Act aims to define digital assets' regulatory status, distinguishing between securities and commodities. As of the Digital Chamber's DC summit, Senate Banking Committee markup is targeted for late April, following nine months of delays. Negotiations continue on "sticky" issues like stablecoin yields and DeFi provisions. Hammond estimates 30% passage odds, lower than Polymarket's 65%, due to multiple fail points: committee markup before Memorial Day, full Senate floor vote, House reconciliation, and election-year politics. Post-Memorial Day slippage risks derailing it until lame-duck session or 2027. Bipartisan support is key, but Democrats may leverage Trump-related "crypto grift" narratives (e.g., meme coins) for attacks, despite the bill's regulatory focus.

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What you'll learn

1 (03:05) **Intro and Guest Welcome** - Host Tony Edward introduces Ron Hammond from Wintermute for DC crypto policy update
2 (03:46) **Clarity Act Status Update** - Targeting Senate Banking markup in late April, negotiations ongoing
3 (05:02) **Banks Oppose Stablecoin Yield** - Banks resist crypto firms offering yield, demand full ban despite White House pressure
4 (06:38) **Stablecoin Yield Inevitability** - Yield persists without Clarity Act; banks can compete but seek to slow crypto natives
5 (08:50) **Banks Target DeFi Provisions** - Banks publicly oppose DeFi rules in Clarity Act, shifting from behind-scenes lobbying
6 (09:29) **Ethics and Trump Meme Coin Concerns** - Democrats may use Trump crypto ties to attack bill in election year
7 (12:21) **Legislative Process Timeline** - Markup before Memorial Day key; then Senate floor, House reconciliation risks

+ Full timestamped outline available in the app

Show Notes

Ron Hammond, Head of Policy and Advocacy at Wintermute, joined me to discuss the latest developments with the crypto market structure bill and much more.
Topics:
- Clarity Act status
- What happens if the Clarity Act does not pass in 2026
- Banks vs Stablecoin Yield and DeFi
- SEC & CFTC Crypto guidance
- Anti-CBDC Bill update
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⏰ Time Stamps ⏰
00:00 Intro
03:08 Clarity Act update
04:25 Banks Stablecoin yield
09:05 Ethics issue Trump
14:53 SEC crypto guidance
18:17 Anti CBDC bill update
21:57 Crypto hearings
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