Coinbase Rejects the Clarity Act Draft as Stablecoin Yield Fight Escalates
Senator Thom Tillis led the development of a draft of the Clarity Act aimed at regulating stablecoin yields.
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tl;dr
Coinbase has rejected a draft of the Clarity Act, which proposes banning stablecoin yields to protect traditional banks. The move complicates efforts by Senators Tillis, Alsobrooks, and Lummis to regulate the sector while facing pressure from the Coinbase-backed Fairshale Super PAC.
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TTThom TillisR-North Carolina
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