As lawmakers continue to work toward a middle ground between banks and crypto companies, a newly disclosed stablecoin proposal in Washington is once again drawing attention. The latest update to the Digital Asset Market Clarity Act (CLARITY Act) would prohibit platforms from offering yield on stablecoins “directly or indirectly,” including any mechanism deemed “economically or functionally equivalent” to interest. The draft language was reviewed by industry stakeholders following Monday's meeting, according to Eleanor Terrett. To curb workarounds, the restriction would apply broadly to digital asset service ... (full story)