Clarity Act odds surge on stablecoin compromise, Coinbase support
By Aleks Gilbert
AI summary of the source article
US Senators reached a compromise on the Clarity Act to prohibit passive interest or yield on stablecoins while permitting rewards on bona fide transactions. Following Coinbase CEO Brian Armstrong's apparent endorsement of a markup, the Senate Banking Committee is working toward a bipartisan vote as early as May. If enacted, the legislation would give US financial regulators one year to establish clarifying rules on permitted stablecoin incentives.