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CLARITY Act stablecoin yield arrangement divides banking lobby


CLARITY Act stablecoin yield arrangement divides banking lobby

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Goldman Sachs and Morgan Stanley now support stablecoin-yield provisions in the CLARITY Act after months of bank and trade-group opposition, signaling a regulatory path for institutional crypto participation. Backing could accelerate adoption, fundraising and regulated yield products for stablecoins, DeFi and CEX custody offerings, but the provisions remain contested and carry regulatory risk.

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Institutions like Goldman Sachs and Morgan Stanley appear to now be supporting the highly contested issue of stablecoin yield in the CLARITY Act legislation after months of major banks and trade groups aligning to reject those provisions.  For companies like Goldman Sachs, the proposed CLARITY Act is a path into crypto markets despite the concern...
Read the article at CryptoPolitan

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