The newly released draft of the CLARITY Act, published Friday, outlines how crypto companies can structure stablecoin rewards without crossing into territory reserved for traditional banking.
Under the proposed framework, crypto firms are restricted from offering yield products that resemble bank deposits or savings accounts. The goal is to prevent confusion between regulated banking services and digital asset platforms.
However, the draft makes room for legitimate, “bona fide” transactions—meaning companies can still provide certain types of rewards tied to real activity, as long as they don’t function like interest-bearing accounts offered by banks.
This approach aims to strike a balance: encouraging innovation in the crypto space while preserving safeguards around traditional financial products.$USDC #CryptoVCFundingFalls74%inApril
#