On 19 January 2026, debate over the CLARITY Act’s proposed ban on yield-bearing US dollar stablecoins intensified, as critics argued it could weaken the currency’s position in global markets. The bill would prevent US exchanges and service providers from offering interest or rewards on dollar-backed stablecoins, a measure banks support as protection for deposits and financial stability. Industry figures including Anthony Scaramucci and Brian Armstrong warn that removing yield from US digital dollars while rivals such as China's interest-bearing digital yuan expand could undermine the long-term competitiveness and adoption of US-linked digital assets.

On 19 January 2026, at 09:31, Washington's CLARITY Act stalled, a development some analysts frame as a constructive pause. Crypto analyst Michaël van de Poppe argues the draft risked locking in restrictive rules. Coinbase withdrew support, and CEO Brian Armstrong flagged tokenized equities, yield-bearing stablecoins, and DeFi user data access as unacceptable provisions.

Ethereum is consolidating near $3,300 as traders watch a narrowing structure and improving momentum. A January 18, 2026 post by Merlijn The Trader stressed holding $3,300 and pointed to $3.9k–$4k as a potential upside zone. The 4-hour MACD has turned upward, while patterns such as a falling wedge and double bottom are in focus.

On 18 January 2026, the debate over whether US dollar-pegged stablecoins should be allowed to pay interest intensified as Congress worked on a major digital asset bill. Banks warn that interest-bearing stablecoins could pull trillions of dollars in deposits from the traditional system and tighten credit, while crypto firms argue that well‑regulated reserves and transparent yield mechanisms distinguish these products from bank deposits. Lawmakers are considering language that would ban "interest for holding" stablecoins, a move critics say could reshape stablecoin business models and their role in the financial system.

On 18 January 2026, analysis attributed to the Atlantic Council indicated that the China-backed mBridge cross-border payment platform has processed more than $55 billion in cumulative transactions and over 4,000 international payments. The pilot system links central banks from China, Hong Kong, Thailand, the United Arab Emirates, and Saudi Arabia, with the digital yuan accounting for nearly all of the activity.

On 18 January 2026, data from Alphractal indicated that waning search and social interest in Bitcoin and altcoins is now reflected in on-chain stablecoin activity. USDT volumes on Ethereum and Tron are losing momentum, while USDC usage is growing in a measured way that aligns more with institutional or treasury-style behavior than speculative trading.

On 18 January 2026, GameFi project Axie Infinity saw its AXS token more than double in a week and jump 43.58% in 24 hours to about $1.86, with daily trading volume near $971.2 million against a market cap of roughly $313.7 million. The rally coincides with heavy spot and futures activity and upcoming structural changes such as a reputation-based Axie Score system and the bonded AXS (bAXS) token, which are drawing renewed attention to GameFi tokens.

Ethereum is holding above the 21-period EMA on the three-week chart, which several technical analysts view as a sign of ongoing strength rather than a major top. They interpret the current sideways action as reaccumulation within a broader uptrend, with a higher-probability scenario of further upside as long as this key support does not break.

On 17 January 2026, Metaplanet CEO Simon Gerovich argued that Bitcoin is largely absent from corporate balance sheets because it rarely reaches board-level discussion. He said it conflicts with standard treasury assumptions on volatility, return predictability, and accounting, and that only a few firms accept perception risk and long-term skepticism to adopt it.