BANKS STILL OPPOSE THE CLARITY ACT STABLECOIN COMPROMISE

Major U.S. bank trade groups say the new stablecoin yield fix “falls short,” even after senators signaled the deal is likely final.

The latest deal would ban crypto firms from paying interest or yield just for holding stablecoins, but still allows activity-based rewards.

Banks say the fix does not go far enough.

"It is imperative that Congress get this right," banks added.

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