US banking industry calls for tightening CLARITY Act stablecoin yield rules, warning of potential impact on $1.3 trillion in deposits
ChainCatcher News, according to Cryptonomist, banking industry groups such as the American Bankers Association and the Independent Community Bankers of America are urging the Senate to further tighten provisions related to stablecoin yields in the CLARITY Act. Previously, on May 14, 2026, the Senate Banking Committee passed the bill by a vote of 15 to 9, incorporating some amendments promoted by Senators Thom Tillis and Angela Alsobrooks. However, the banking industry believes that the current text still does not fully close the loopholes for stablecoin “quasi-yield” incentives.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gurman predicts iPhone Duo: The first foldable may set industry standards, Apple (AAPL.US) foldable could trigger a decade-long upgrade cycle
Renowned financial journalist Mark Gurman stated that Apple’s first foldable iPhone has the potential to elevate the still-experimental foldable phone category to an industry standard. He noted that this device, called the iPhone Duo, is one of Apple’s most influential products, ranking just behind the iMac, iPod, iPad, and Apple Watch.
Element Fleet drops bid for FleetPartners, exits sale process
Anchoring to Nasdaq! Anthropic races toward a record-breaking IPO with fundraising scale targeting SpaceX
Sources indicate that Anthropic PBC has chosen Nasdaq as its listing venue, and the potential IPO is expected to set a historic record.
10-Yr Benchmark Govt Yields - U.S. vs Other Nations
Crypto prices
More
