The release of the stablecoin draft in the CLARITY Act has been delayed as lawmakers seek more clarity on yield rules, which remain a significant hurdle. The draft, initially expected this week, is now postponed, with potential release next week or later. Lawmakers are in discussions with banking groups and crypto companies to resolve disagreements.
The current draft proposes blocking rewards on idle stablecoin balances but allows yield from transactions. This has sparked debate, with traditional banks opposing rewards due to potential impacts on liquidity, while crypto firms argue it could stifle innovation. Despite ongoing talks, no consensus has been reached.
Coinbase's Chief Policy Officer, Faryar Shirzad, expressed optimism that the CLARITY Act could progress soon, with a possible Senate vote by May if discussions remain on track. The bill aims to address the debate over stablecoin yields and bring clearer rules to the sector.
CLARITY Act Stablecoin Draft Delayed Over Yield Dispute
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