Patrick Witt Says Banks Oppose CLARITY Act Despite Stablecoin Interest Ban

Patrick Witt criticized U.S. banks after 134 banking executives and leaders urged the Senate to revise the CLARITY Act’s stablecoin provisions. The dispute centers on Section 10404, which restricts interest or yield on payment stablecoins. Ad Ad Banks Seek Wider Stablecoin Reward Ban The banking group asked Senate leaders to tighten language covering stablecoin rewards,