The latest version of the Clarity Act is pressuring stocks as it would restrict stablecoin rewards. Circle shares fell as much as 18%, and Coinbase dropped about 8%, after a draft of the U.S. Clarity Act raised the prospect of strict limits on stablecoin yield. The proposed legislation would bar rewards on passive stablecoin balances and ban structures "economically equivalent to interest," threatening a key incentive that has fueled USDC adoption. The sell-off hit Circle after a 170% rally sin…
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