On the eve of the January 15th review of the 《CLARITY Act》, the cryptocurrency and banking industries are ramping up lobbying efforts to limit stablecoin yields. Banks are seeking to ban stablecoin yields to protect deposits, while over 125 cryptocurrency companies, including White House advisor Patrick Witte, believe that such a ban would harm America's competitiveness. Leading figures in the cryptocurrency space, such as Ethereum founder Joseph Lubin and Coinbase founder Brian Armstrong, are supporting consumers' right to earn yields. Galaxy founder Mike Novogratz even called the move "absolutely stupid." The issues of yields and DeFi regulations could jeopardize the bill's final passage.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
On the eve of the January 15th review of the 《CLARITY Act》, the cryptocurrency and banking industries are ramping up lobbying efforts to limit stablecoin yields. Banks are seeking to ban stablecoin yields to protect deposits, while over 125 cryptocurrency companies, including White House advisor Patrick Witte, believe that such a ban would harm America's competitiveness. Leading figures in the cryptocurrency space, such as Ethereum founder Joseph Lubin and Coinbase founder Brian Armstrong, are supporting consumers' right to earn yields. Galaxy founder Mike Novogratz even called the move "absolutely stupid." The issues of yields and DeFi regulations could jeopardize the bill's final passage.