Why Banks Failed to Kill Stablecoin Rewards in the Clarity Act

Description

The Genius Act allowed stablecoin issuers to pay rewards to users. The bank lobby used the Clarity Act to try to reverse that. Here's what actually happened in the negotiation, and what the new restrictions on stablecoin rewards mean in practice. Faryar Shirzad, Chief Policy Officer at Coinbase, joins Laura Shin to break down the compromise language, why Coinbase considers it workable, and why 150 to 200 new stablecoin projects have already launched since the Genius Act was signed. This clip is from a longer conversation on the Clarity Act and US crypto legislation. Full episode here: https://youtube.com/live/_vdOTAsNAqg We go live every Tuesday and Thursday — subscribe to catch it live. Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Chapters: 🏦 0:00 What the banks wanted in the Clarity Act stablecoin yield fight — and what they settled for ⚖️ 3:15 Why Coinbase calls the compromise workable 📣 4:47 The American Bankers Association pushes back anyway 🔮 8:34 Why the bank lobby is fighting the president's own agenda 📈 9:49 Which types of activity the banking industry will go after now _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!