U.S. Senators Announce Compromise on Stablecoin Rewards in CLARITY Act

U.S. Senators Thom Tillis and Angela Alsobrooks have issued a joint statement regarding a compromise on stablecoin rewards under Section 404 of the CLARITY Act. According to ChainCatcher, the statement suggests that the related agreement is nearing finalization. The senators have engaged with various stakeholders to address concerns from the banking industry about deposit outflows. The compromise will prohibit stablecoin rewards from resembling bank deposit interest, while allowing crypto companies to offer other forms of customer incentives.