U.S. Senate Republicans Push for Release of Stablecoin Interest Report

Republican members of the U.S. Senate Banking Committee are calling on the White House to disclose a report on stablecoin interest, which remains undisclosed. According to NS3.AI, lawmakers have nearly reached a 99% consensus on the provisions related to the CLARITY bill. The report by the Council of Economic Advisers analyzes the potential impact of paying interest on stablecoins, particularly concerning deposit outflows from traditional banks and the implications for bank lending. While Republican committee members have been briefed on the findings, the document has yet to be made public.