May. 4 at 3:57 PM
Across bank sub‑sectors, the CLARITY Act’s resolution of the stablecoin yield debate is a net positive,” Bank of America analyst Ebrahim H. Poonawala said in a note Monday. “It should alleviate concerns tied to deposit flight, reduce regulatory uncertainty, and allow banks to engage with digital‑asset infrastructure on more controlled terms.”
The crypto industry has so far had a favorable response to the development.
Coinbase CEO Brian Armstrong, who has been heavily involved in discussions around this bill on Capitol Hill and strongly in support of evening the playing field between crypto companies and banks, posted on X Monday morning, saying “Mark it up.”
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