Patrick Witt Says Banks Oppose CLARITY Act Despite Stablecoin Interest Ban
Covered by 2 sources · 2 articles
2 outlets - including Cryptotimes and Coingape - are covering this story. Witt argued banks' criticism appears inconsistent because the CLARITY Act already prohibits interest-bearing payment stablecoins to address deposit concerns.
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Patrick Witt Questions Banks’ CLARITY Act Stablecoin Stance
Witt argued banks' criticism appears inconsistent because the CLARITY Act already prohibits interest-bearing payment stablecoins to address deposit concerns.
Patrick Witt Says Banks Oppose CLARITY Act Despite Stablecoin Interest Ban
Patrick Witt criticized U.S. banks after 134 banking executives and leaders urged the Senate to revise the CLARITY Act’s stablecoin provisions. The dispute centers on Section 10404, which restricts interest or yield on payment stablecoins.…