A new draft of the Digital Asset Market Clarity Act has sparked debate within the crypto industry, particularly over how stablecoin rewards will be handled.
According to the revised proposal, users will not be allowed to earn rewards simply for holding stablecoins. Instead, rewards will be linked to specific activities, ensuring that stablecoins do not function like traditional bank deposits that offer interest.
This change comes as a compromise between the crypto sector and traditional banks. Financial institutions have raised concerns that interest-like rewards on stablecoins could disrupt the banking system and reduce lending activity.
However, industry experts have pointed out that the draft lacks clarity on how activity-based rewards will work in practice. This uncertainty could affect innovation and limit the development of new financial products.
The Clarity Act is seen as a key step toward creating a comprehensive regulatory framework for crypto in the United States. If passed, it could reduce uncertainty and encourage more institutional participation, although several issues, including DeFi regulation, still need to be resolved.
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