TLDR Tech / Fintech
Stablecoin legislation advances with compromise on yield restrictions
Lawmakers reached a key compromise in the Clarity Act, banning stablecoin issuers and platforms from offering interest-like yield while allowing activity-based rewards tied to usage. The deal unblocks progress on long-stalled US crypto legislation, with Coinbase pushing for rapid Senate markup given its significant stablecoin revenue exposure. The outcome reflects a balance between bank concerns over deposit competition and crypto firms' need to incentivize adoption.
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