Hawley Resistance Grows as Banking Sector Pushes Back on Clarity Act Stablecoin Yields
The Clarity Act has hit resistance from some members of the GOP after Senator Hawley expressed opposition to the bill's stablecoin yield provisions. The senator skipped the recent GENIUS vote, citing concerns over the rules for stablecoin yields.
Lummis confirmed that Hawley remains resistant to the Clarity Act, despite ongoing talks aimed at shifting his stance. Industry sources expect tweaks to be made to the yield section before the bill is put to a floor action.
The banking sector has been pushing for changes to the stablecoin yield provisions in the Clarity Act. This pushback from banks could reshape the impact of stablecoin yields on the final legislation, reflecting growing resistance within the banking sector to crypto-related regulations.