Circle shares jump after CLARITY Act compromise preserves stablecoin rewards
Updated
Updated · CNBC · May 4
Circle shares jump after CLARITY Act compromise preserves stablecoin rewards
11 articles · Updated · CNBC · May 4
The stock rose 16%, while Coinbase gained more than 7%, BitGo 12% and Galaxy Digital 5%; Bitcoin held near $79,000 after topping $80,000 over the weekend.
Revised bill language bars savings account-like interest on passive stablecoin deposits but allows activity-based rewards tied to trading, transactions or staking, favouring Circle and Coinbase over smaller high-yield platforms.
Bank of America called the outcome a net positive for banks, saying it could ease deposit-flight concerns and reduce regulatory uncertainty as crypto shifts toward financial infrastructure uses.
As US law tames centralized stablecoins, what does the future hold for decentralized finance protocols?
How will the CLARITY Act's yield ban impact consumers if it only boosts bank lending by 0.02%?