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Crypto industry calls for lawmakers to act on legislation after breakthrough agreement
Crypto companies such as Coinbase are calling for Congress to advance a major market structure bill known as the CLARITY Act as soon as next week after senators released compromise language meant to end a battle between banks and crypto over when rewards can be offered on stablecoins. The proposal — from Sens. Thom Tillis, R-N.C, and Angela Alsobooks, D-Md. — would ban crypto companies from giving yield-like rewards for holding stablecoins, which banks warn would lead to fewer deposits and less capital for them to loan. However, it would allow rewards if users spend or use stablecoins. The rules-of-the-road ... (full story)
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