**[Opinion: Amending Key Provisions of the "Clarity Act" Will Lead to Legislative Failure, Should Be Passed Without Delay]** BlockBeats News, August 22 – Summer Mersinger, CEO of the Blockchain Association, stated in an article that with less than four weeks remaining until the U.S. Senate votes on advancing the debate on the "Clarity Act" on September 15, reopening provisions that have been negotiated for months will not improve the bill. Instead, it will restart an unresolvable negotiation process, which could ultimately lead to legislative failure. Mersinger noted that two proposed amendments by the American Bankers Association (ABA)—replacing the existing standard with "substantially similar interest" and removing the word "solely"—are not mere textual adjustments but significant policy changes. She pointed out that "substantially similar interest" is a flexible legal standard that could allow regulators to broaden their interpretive scope, while removing "solely" would alter the applicability of stablecoin yield restrictions under the "GENIUS Act," impacting the policy boundaries previously set by Congress. Mersinger argued that the ABA's concerns about stablecoins potentially causing a loss of bank deposits lack real-world evidence. Data shows that since the passage of the "GENIUS Act," U.S. bank deposits have grown for three consecutive quarters, with a cumulative increase of over $800 billion. She emphasized that what truly needs to be done to protect consumers is to establish a regulatory framework for digital assets. The "Clarity Act" will clarify the regulatory boundaries between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), require platforms serving U.S. users to register, and implement rules for customer asset segregation, information disclosure, and conflict of interest management. Mersinger concluded by urging the U.S. Senate not to reopen negotiations. "The bill is complete, the work is done, and on September 15, the Senate has the opportunity to move it forward. It should be passed directly." [Original Link]