US Lawmakers Refine Stablecoin Reward Rules in CLARITY Act

Lawmakers in the US are making progress on clarifying the rules surrounding stablecoin rewards as part of the CLARITY Act.

The proposed legislation aims to provide a regulatory framework for cryptocurrencies and related activities. A key aspect of the bill is how it addresses stablecoin reward structures, which have been a point of contention between policymakers and industry participants.

A counterproposal has been drafted by Coinbase and other industry groups in response to earlier proposals that would restrict how companies distribute rewards tied to stablecoin holdings. The proposal aims to preserve reward functionality while addressing customer protection concerns.