Draft of the 'Clarity Act' Restricts Earning Interest Solely by Holding Balances

BlockBeats News, January 13: According to crypto journalist Eleanor Terrett, banks may have gained the upper hand in this round of debates over stablecoin yields. The latest circulated draft of the 'Clarity Act' (page 189) stipulates that companies are prohibited from paying interest solely because users hold balances. Users can still earn rewards, but these rewards must be tied to specific actions, such as: opening accounts, conducting transactions, staking, providing liquidity, offering collateral, and participating in network governance. Currently, senators have 48 hours to propose amendments to the text, so it remains uncertain whether these provisions will remain unchanged in Thursday's version.