At the @USOCC, we have worked diligently and expeditiously to deliver the GENIUS Act final rule ahead of schedule to support President Trump's vision and @SecScottBessent's leadership to grow the economy and lead the global digital currency revolution. Today marks the birth of a new industry having a federal framework for payment stablecoins in the digital age. It also brings us back to our original mission when the OCC was charged with the responsibility for organizing and administering a system of nationally chartered banks and a uniform national currency.

NEW: CFTC staff updated its crypto FAQs to address customer funds invested in tokenized assets and the use of blockchain technology to satisfy recordkeeping requirements. Chairman Michael Selig says the changes are part of the agency’s efforts to provide “regulatory clarity for the crypto industry.”

President Trump called the play - but Senator Cynthia Lummis fumbled the ball. Tell her to get back to the end zone. Pass the CLARITY Act now!

It's here — SEC releases long-awaited innovation exemption to 'bring America's capital markets into the digital age' theblock.co/news/regulation/…

Well that’s good to hear as it’s the only clarity we’ve got.

Crypto's Clarity Act Vote Is Tues Sept 15: What the Senate Decision Mean... youtu.be/8xiwEw-Yucg?si=8wNl… via @YouTube

Watch Clarity cloture live ~2:15pm ET — motion to proceed, needs 60, opens debate. Not a law. 👊😎 C-SPAN: c-span.org/event/us-senate/2… Senate floor: senate.gov/floor/ Roll call after: senate.gov/legislative/LIS/r… Daily Press: dailypress.senate.gov/

Sen. John Cornyn (R-Texas) says he’s undecided on voting for cloture on the Clarity Act tomorrow, pointing to concerns from law enforcement groups and banks. Cornyn wants an update on the latest text. “I'm still considering how to vote,” Cornyn told reporters tonight.

New: Sen. Susan Collins (R-Maine) sounds undecided on the the Clarity Act, calling it a “moving target” “It’s more than 600 pages, with a new ethics provision in it, and other provisions that I need to look at, such as whether it would cause community banks to lose deposits.”

THE BLOCK: Eight bank trading groups, including the American Bankers Association and the Independent Community Bankers of America, say the latest Clarity Act text doesn't go far enough to address their concerns around the risk of deposit flight. "Congress should address this risk upfront by ensuring the Clarity Act prohibits payment stablecoin rewards and incentives that function like deposit interest, rather than waiting for harm to banks, borrowers and communities before regulators are empowered to respond," they said in a letter to Senate leadership.

🚨NEWS: Senate Republicans have released new Clarity Act text featuring a revised ethics proposal agreed to by President Trump. The text also contains changes to the sections on the Blockchain Regulatory Certainty Act (BRCA), stablecoin yield, and the so-called “Ag title.” Republicans are calling it their “last, best and final” offer to Democrats ahead of Tuesday’s cloture vote. Some high-level details.👇🏼 On BRCA: The provision has been narrowed to the Bank Secrecy Act and civil enforcement. Specific language extending its protections to criminal cases, including prosecutions under Section 1960, has been removed. On ethics: Trump has agreed to what a GOP aide describes as “80%” of the Tillis-Gallego ethics proposal including to either divest “substantial” crypto-related financial interests or place them in a blind trust. It would also allow a role for state attorneys general to enforce ethics provisions, something which the White House had previously balked at. On yield: Added “circuit breaker” language (floated by Tillis in July) that would effectively act as a backstop by allowing federal regulators to intervene if there was evidence of widespread deposit flight from community banks to stablecoins. The federal regulator that will be the arbiter of this: Treasury Secretary Scott Bessent. On Ag: The updated text adds tighter guardrails around vertical integration, including affiliate trading and conflicts of interest involving digital commodity exchanges, brokers and dealers. It also clarifies that state consumer protection laws still apply and that developer protections do not create exemptions from derivatives laws or impact prediction markets. More to come in the @CryptoAmerica_ newsletter tomorrow AM.