tldr; Coinbase is reconsidering its support for the CLARITY Act if it includes a ban on stablecoin rewards. The act, aimed at regulating decentralized finance, could restrict stablecoin issuers from offering rewards on exchanges, potentially impacting Coinbase’s revenue. Banking groups argue that stablecoin rewards could divert trillions from traditional banking. The crypto community is lobbying to protect these rewards, while the Senate Banking Committee is set to discuss the issue. The act’s implementation may face delays, potentially extending to 2029.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Grunblau on
Horse drawn buggy purveyors are concerned that people might not want to deal with so much horseshit in the streets if automobiles are allowed as an option.
CipherScarlatti on
Really wish crypto would go back to it’s core purpose of being and we could just flush all the scam stuff out of the field.
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tldr; Coinbase is reconsidering its support for the CLARITY Act if it includes a ban on stablecoin rewards. The act, aimed at regulating decentralized finance, could restrict stablecoin issuers from offering rewards on exchanges, potentially impacting Coinbase’s revenue. Banking groups argue that stablecoin rewards could divert trillions from traditional banking. The crypto community is lobbying to protect these rewards, while the Senate Banking Committee is set to discuss the issue. The act’s implementation may face delays, potentially extending to 2029.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Horse drawn buggy purveyors are concerned that people might not want to deal with so much horseshit in the streets if automobiles are allowed as an option.
Really wish crypto would go back to it’s core purpose of being and we could just flush all the scam stuff out of the field.