Clarity Act compromise would permit rewards but bar bank-like stablecoin yield

Compromise Clarity Act text released Friday would bar stablecoin issuers from paying yield solely for holding payment stablecoins, while preserving some activity-based rewards. Senators Thom Tillis and Angela Alsobrooks released the language after months of negotiations over how to separate crypto rewards from bank-like deposit products. Cody Carbone of the Digital Chamber said the release could help move the bill toward a Senate Banking Committee markup.

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