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U.S. Senators Reach Compromise on Stablecoin Yield Terms, Potential Obstacles to the Advancement of the "Clarity Act" May Be Removed
Odaily Planet Daily News: U.S. lawmakers have reached an agreement on the staking yield provisions for stablecoins, after disagreements previously caused the “Clarity Act” to be shelved in the Senate for several months. Senator Tom Tillis and Angela Alsobrooks have finalized a compromise text, with Section 404 stipulating that crypto companies cannot offer interest or yields that are economically or functionally equivalent to bank deposits, but activities related to real platform usage incentives are permitted.
Coinbase CEO Brian Armstrong stated that the Senate Banking Committee should be encouraged to review the bill as soon as possible. This development may provide momentum for the previously stalled review process. (The Block)