US lawmaker says CLARITY Act can resolve stablecoin issues

U.S. House Financial Services Committee Chairman French Hill said in an interview with Fox Business that the proposed CLARITY Act will be key to resolving outstanding issues from the GENIUS Act. He emphasized that a bipartisan agreement has been reached on the principle that stablecoins should not pay interest. Hill added that ensuring equal treatment for both bank and non-bank issuers is a key goal, noting that detailed rules on interest payments will be addressed through regulations from the Treasury Department.