Clarity Act Nears US Senate Vote as Banks Push Stablecoin Interest Ban

A dispute between US banks and the crypto industry is intensifying as the Clarity Act approaches Senate action. Banking groups are demanding last-minute revisions, arguing that interest payments on stablecoins and other coins should be fully banned because they could accelerate deposit outflows. Coinbase criticized the push as banking overreach and an attempt to suppress competition. Senator Tillis pushed back, saying the existing compromise should be preserved. The debate has become a key issue in the Senate process because it could directly affect stablecoin regulation and competition across the financial sector. Source: mk.co.kr.