New Clarity Act Text Allows Crypto Firms to Offer Stablecoin Rewards with Certain Conditions
A newly proposed agreement has been released, addressing the contentious issue of stablecoin yield in the crypto market structure legislation. The new text, part of the Digital Asset Market Clarity Act, prohibits stablecoin issuers from offering yield solely based on holding stablecoin reserves, as this may be seen as competing with traditional banking services. However, it allows for rewards tie…