NC Bankers Push For Stablecoin Yield Ban on the CLARITY Act
BeInCrypto
The North Carolina Bankers Association is lobbying Senator Thom Tillis to implement a total ban on stablecoin yield payments within the CLARITY Act.Summary
The North Carolina Bankers Association is pressuring Senator Thom Tillis to advocate for an "airtight prohibition" on stablecoin yield payments as the Senate Banking Committee approaches a markup of the CLARITY Act. The trade group argues that current compromise language, which allows transaction-based rewards, is insufficient to stop deposits from migrating into stablecoins. Despite a report from the White House Council of Economic Advisers suggesting minimal impact on bank lending, the banking industry remains steadfast in its opposition to any form of yield on stablecoin holdings.
(Source：BeInCrypto)