Get Ready! Clarity Act Markup is Happening & US Bitcoin Reserve Update is Near! | Cody Carbone

May 9, 2026

AI Summary

5 min read

Cody Carbone, CEO of the Digital Chamber, joins hosts Tony Edward and Amanda Witcraft to update on key U.S. crypto legislation. He details progress on the Clarity Act, including a stablecoin compromise, and previews next steps like tax reforms and a strategic Bitcoin reserve announcement.

Clarity Act Stablecoin Compromise

A stablecoin yields compromise has been finalized after four months of negotiations involving Senators Gillibrand, Lummis, and others, plus Senate Banking staff and White House representatives. It prohibits stablecoin rewards or yields that are economically or functionally equivalent to interest-bearing deposits but allows a long list of other activities and transactions. This permits the rewards ecosystem to continue thriving without a blanket ban sought by banks, who have pushed back unsuccessfully.

The deal amends the existing GENIUS Act—passed into law—via attachment to the Clarity Act. Changes to this would require new legislation, not just agency guidance, as implementation rulemaking for GENIUS Act extends to January 1, 2027. Carbone views it as imperfect but a strong unlock for advancing the full market structure bill, providing clarity on token issuance, listing, and regulators (SEC vs. CFTC).

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What you'll learn

1 (02:26) **Intro and Guest Welcome** - Hosts introduce Cody Carbone, CEO of Digital Chamber, to discuss DC crypto legislation updates
2 (02:52) **Stablecoin Yields Compromise Reached** - Details final deal after 4 months of negotiations despite bank pushback
3 (04:20) **Clarity Act Markup Timeline** - High confidence for Senate Banking markup next week (13th or 14th)
4 (05:25) **Bipartisan Optimism for Passage** - Republicans and Democrats eager to move forward amid fatigue
5 (06:22) **Post-Clarity Priorities: Tax Reform** - Tax clarity next after market structure to onshore token foundations
6 (10:19) **Tax Legislation Vehicles** - Unlikely standalone; seek riders on must-pass bills like reconciliation or NDAA
7 (12:39) **IRS/Treasury Guidance Potential** - Agencies can issue rules now (2013 guidance outdated); band-aid before legislation

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Show Notes

Cody Carbone, CEO at The Digital Chamber, joined us to discuss the latest updates with the crypto legislation bill Clarity Act, Bitcoin Reserve, and more.
Topics:
- Clarity Act markup
- Bitcoin Reserve update
- Parity Act Crypto tax legislation
- Anti CBDC act
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⏰ Time Stamps ⏰
00:00 Intro
02:52 Clarity Act Markup
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