Financial trade groups urge Senate Banking committee to refine stablecoin bill
The American Bankers Association, among other financial trade associations, are urging Senate Banking Committee leaders to make technical refinements to the stablecoin bill, the CLARITY Act. Specifically, the groups are urging changes to the proposed payment stablecoin yield language in the CLARITY Act. Specifically, they are urging targeted revisions to clarify the prohibition on interest and yield, eliminate provisions that could be used to circumvent congressional intent, and better align ...
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