Issuers of stablecoins are now banned from paying interest on their products as part of new regulations working through Congress under the GENIUS Act and Clarity Act.
3 reports, 2 independent
Updated Sep 9
Gone quiet
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- 3
- Developments
- 2
- Repetition
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New informationRepeats or wire copies
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What happened
Issuers of stablecoins are now banned from paying interest on their products as part of new regulations working through Congress under the GENIUS Act and Clarity Act.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Congressional action is needed to govern stablecoin development, as stablecoins could undermine community bank lending capacity.Sub-event
New regulations prohibit stablecoin issuers from paying interest, driven by the GENIUS Act and Clarity Act.1 source
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The entities involved
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Indian National Congress
centrist-liberal political party in India
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