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Citigroup CEO Fraser Says She Wants Clarity Act to Pass, But Worried About Stablecoin Rewards

Regulation & Policy

2026-08-13 17:50:17

C0.76%

According to an interview on Fox Business on Thursday morning, Citigroup CEO Jane Fraser said she would like to see the Clarity Act—landmark cryptocurrency legislation—passed into law, even as concerns over stablecoin reward provisions persist. Fraser said she remains worried the bill's treatment of stablecoin yields could have a detrimental impact on traditional bank deposits and lending, though she believes overall legislation would be beneficial. "We have not given up on pushing to get some improvements made to the bill, but we would like to see a good bill go through," Fraser said. The stablecoin rewards issue has resurfaced repeatedly during bill negotiations, with banks warning that interest-bearing rewards could draw deposits away from traditional institutions, while crypto firms argue restrictions would hamper innovation. A procedural vote on the bill is expected in September.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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