Crypto Clarity Act may be cleared to move after senators agree on stablecoin yield
CoinDesk • • business
Key Points:
- Senators Thom Tillis (R) and Angela Alsobrooks (D) have reached an agreement in principle on a compromise regarding stablecoin yield provisions in the Digital Asset Market Clarity Act, potentially resolving a major sticking point in the bill.
- The compromise aims to protect banking stability by barring rewards on passive stablecoin balances, addressing concerns that such rewards could resemble interest on bank deposits and threaten lending.
- Details of the agreement have not yet been shared with industry stakeholders, with further information expected to be circulated after Monday.
- Other issues remain unresolved in the bill, including regulations around decentralized finance (DeFi), and the legislation must still be reconciled with a similar version passed by the Senate Agriculture Committee.
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