koolgal
03-25 18:53
🌟The market is currently reeling from a leaked draft of the CLARITY Act that proposes a strict ban on passive yields for stablecoins like USDC.

As a result, $Circle Internet Corp.(CRCL)$ plunged 20%, its worst day on record while $Coinbase Global, Inc.(COIN)$ dived nearly 10%.

Traditional banks argue that stablecoin rewards create unfair competition with bank deposits. 

The latest draft prohibits any payment that is "economically or functionally equivalent to interest."

Is this latest draft fatal for Coinbase & Circle?

Not necessarily.  The draft allows for activity based rewards tied to loyalty, trading or promotional programs. 

This means that Coinbase could still reward you for using USDC, just not for letting it sit idle.

In the long term, the CLARITY Act is a positive catalyst. It defines the rules, which could unlock billions in institutional capital that has been waiting for a legal framework.

@Tiger_comments @Tiger_SG @TigerStars @TigerClub @CaptainTiger

@Crypto加密虎：【🎁有獎話題】CLARITY Act或限制穩定幣「生息」機制！Circle、Coinbase股價大跌，如何重塑市場預期？
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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