Credit Unions Support Most of Clarity Act, Call for Stronger Stablecoin Yield Language

According to Fox Business, Americas CUs and a 50-state credit union coalition recently supported the majority of the Clarity Act's provisions while raising concerns about stablecoin yield conditions. The groups urged senators to strengthen language in the Tillis-Alsobrooks compromise, warning that current terms could allow "functionally passive" reward structures that might cause deposits to flow away from local credit unions.
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