U.S. banking groups urge Senate to tighten CLARITY Act stablecoin incentive rules

Banking association officials and bank executives across the United States urged the Senate to revise the stablecoin-related provisions of the CLARITY Act, BitcoinNews.com reported. The 134 signatories argued the bill should strengthen restrictions on interest and yield payments to ban обход routes such as rewards or other incentives. They added that if stablecoins draw in deposits through incentives, the bank deposit base that funds local lending could be weakened by hundreds of billions of dollars, and stressed that payment stablecoins should function as a means of transaction.