The Senate Banking Committee advances the Clarity Act 15-9 with two Democratic votes, keeping the stablecoin yield deal intact as ethics talks continue.
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Tillis and Alsobrooks unveil Clarity Act text barring interest-like stablecoin yield while allowing activity rewards, and crypto groups push for a markup.
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A revised Senate Clarity Act draft would ban rewards on passive stablecoin balances, sending Circle down nearly 20% and Coinbase sharply lower.
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