One expert believes that the failure to pass the bill is a win for the banks that staunchly oppose stablecoin yields, while a global crypto lawyer believes overseas jurisdictions benefit. The Senate’s failure to advance the Clarity Act leaves U.S. crypto policy largely in the hands of the Securities and Exchange Commission and the Commodity Futures Trading Commission. Banks gained ground in a dispute over whether stablecoin platforms should be allowed to offer rewards that could compete with ba…
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