Proposed Legislation Allows Crypto Firms to Offer Stablecoin Rewards While Protecting Bank Yields
A newly unveiled section of the proposed Digital Asset Market Clarity Act, released on Friday, reveals that crypto firms will be barred from offering yield on stablecoins based solely on holding reserves. However, the legislation permits rewards for 'bona fide activities or transactions', effectively allowing firms to offer incentives for using their platforms. The compromise, reached by U.S. Sen…