US Banks Say CLARITY Stablecoin Yield Language Still Falls Short on Deposit Protection

America’s largest banking groups said the CLARITY Act’s proposed stablecoin yield language still falls short of protecting deposits, even after the bipartisan bill passed the House 294-134 in July. The groups said Section 404 leaves a loophole that could let crypto platforms offer bank-like rewards outside traditional rules.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin