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Coinbase Backs CLARITY Act Deal Blocking Bank-Like Stablecoin Rewards
Senators Thom Tillis and Angela Alsobrooks finalized a bipartisan CLARITY Act compromise that bans bank-like stablecoin rewards and clears a path toward Senate Banking Committee markup. The text still allows rewards tied to genuine platform activity if they do not function like interest on a bank deposit. The bill tells federal regulators to draft a stablecoin disclosure framework and publish permissible reward activities.