Banking Groups Intensify Lobbying Against Stablecoin Yield Ban in CLARITY Act Talks

Banking trade groups have increased their lobbying efforts against the proposed stablecoin yield compromise in ongoing CLARITY Act discussions. According to NS3.AI, the debate has focused on a White House estimate suggesting that a yield ban would result in only $2.1 billion in additional bank lending. The compromise aims to prohibit passive yield on stablecoin balances while permitting activity-based rewards. Senator Tillis mentioned that the text is still being finalized this week, whereas Senator Alsobrooks anticipates its completion probably next week.