Galaxy Digital head of research Alex Thorn expects the banking industry to “increase their opposition efforts” following the release of the final stablecoin yield provisions. The US CLARITY Act, which aims to provide the US crypto industry with more regulatory clarity, could now move closer to becoming law after new stablecoin yield provisions were published, according to Coinbase chief legal officer Faryar Shirzad.
“It’s time to get CLARITY done,” Shirzad said in an X post on Friday, after US Senator Thom Tillis and US Senator Angela Alsobrooks published the final text aimed at settling the stablecoin yield dispute between the banking and crypto industries, which has centered on whether such yields would harm the banking system’s competitiveness.
“In the end, the banks were able to get more restrictions on rewards, but we protected what matters – the ability for Americans to earn rewards, based on real usage of crypto platforms and networks,” Shirzad said.
