Techub News reports, citing Bitcoinist, that the U.S. Senate Banking Committee is scheduled to conduct a markup review of the CLARITY Act on May 14. The bill is intended to clarify the standards for classifying crypto tokens as securities and commodities, and includes a compromise provision that prohibits stablecoin issuers from paying rewards for idle holdings. This provision was brokered by Senators Thom Tillis and Angela Alsobrooks, aiming to prevent stablecoin issuers from offering incentives similar to interest on bank deposits. The American Bankers Association opposes it, saying it could weaken the stability of the banking system, and has urged its members to contact senators to request amendments.

View Original
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