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BTC $80,127.08 +1.10%
ETH $2,356.07 +0.54%
BNB $624.83 +0.71%
XRP $1.40 -0.30%
SOL $84.22 -0.57%
TRX $0.3405 +0.75%
DOGE $0.1102 +0.74%
ADA $0.2501 -0.29%
BCH $443.85 -0.48%
LINK $9.36 +1.91%
HYPE $42.10 +1.09%
AAVE $92.20 -1.24%
SUI $0.9327 +0.63%
XLM $0.1571 -1.02%
ZEC $431.54 +4.43%

pro

The CLARITY Act makes key progress: compromise reached on stablecoin yield rules, entering the countdown for review

According to Crypto In America, the U.S. CLARITY Act has reached a key compromise on the yield mechanism for stablecoins, clearing an important obstacle for the Senate Banking Committee to advance its review.Under the latest proposal, crypto companies can offer rewards (such as cashback or membership benefits) based on user transaction behavior, but are prohibited from paying interest yields (APY) on idle stablecoin balances. This compromise means that stablecoins will be explicitly positioned as payment tools, rather than as bank-like deposits or high-yield savings products. The industry generally believes that this provision strikes a balance between the crypto industry and traditional banks, but is overall more favorable to the banking system.Industry organizations, including Coinbase, have renewed their support for the bill, believing that although the yield restrictions have tightened, there is still room to earn rewards based on actual usage scenarios. Some industry insiders have pointed out that this move limits the financial attributes of stablecoins.In terms of the regulatory process, Senate Banking Committee Chairman Tim Scott is expected to schedule a markup of the bill soon, possibly as early as mid-May after Congress reconvenes. Additionally, discussions around DeFi regulation (such as defining developer responsibilities) and ethical provisions are still ongoing and may become important variables affecting the bill's final passage. The market generally believes that the next two weeks will be a critical window for whether the CLARITY Act can be implemented.

Opinion: The Bitcoin community is reaching a preliminary consensus on quantum threats and promoting a roadmap for quantum-resistant upgrades

According to FinanceFeeds, Alex Thorn, the research director of Galaxy Digital, stated that as advancements in quantum computing hardware accelerate, the Bitcoin community is shifting from decentralized debates to forming a preliminary consensus on quantum threats. The core direction is to gradually introduce post-quantum cryptography (PQC) through soft forks, achieving an upgrade of the address system and long-term security assurance.The report points out that the current Bitcoin signature mechanism, which uses the Elliptic Curve Digital Signature Algorithm, can theoretically be cracked by Shor's algorithm. Approximately 2 million BTC from early p2pkh addresses are at risk because their public keys have been exposed, facing the potential risk of "collecting first and decrypting later." The community tends to promote a "migration window" mechanism to guide users in transferring their assets to new quantum-resistant addresses, and after a multi-year grace period, to implement freezing or destruction of untransferred assets to prevent large-scale market impacts in extreme situations. Additionally, the consensus includes enhancing "cryptographic agility," which allows protocols to switch signature algorithms without interrupting the network.The current proposal leans towards a dual-signature mechanism that uses ECDSA and PQC (such as Dilithium) in parallel, ensuring security redundancy while facilitating a smooth transition. Analysts believe that this approach transforms the quantum threat from a "black swan event" into a manageable technological upgrade, helping to solidify Bitcoin's security foundation as a long-term store of value asset.
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