NC Blockchain Initiative urges US senator to consider Clarity Act

The North Carolina Blockchain and AI Initiative has sent a letter to U.S. Republican Senator Thom Tillis, urging him to proceed with deliberations on the Clarity Act, according to Eleanor Terrett, host of Crypto in America. The letter counters the NC Bankers Association's opposition to interest on stablecoins, arguing that the so-called 'shadow banking' issue has already been addressed by the Genius Act, which places stablecoin issuers under federal supervision. The initiative warned that a blanket ban on stablecoin interest would drive capital offshore rather than reduce risk.