Coinbase Rejects the Clarity Act Draft as Stablecoin Yield Fight Escalates
Senator Tillis led the development of a Clarity Act draft that proposes yield restrictions on stablecoin deposits.
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tl;dr
Coinbase has rejected the latest draft of the Clarity Act, co-authored by Senators Thom Tillis and Angela Alsobrooks, which aims to restrict stablecoin yields. The exchange's opposition threatens the bill's progress and highlights the ongoing tension between crypto companies and traditional banking regulations.
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TTThom TillisR-North Carolina
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