🚨 Breaking News: The draft of the U.S. "Clarity Act" will be released next week! Is the era of "easy earnings" for stablecoins coming to an end?
Former Fox Business reporter Eleanor Terrett revealed that Senator Thom Tillis's office plans to formally release the draft of the "Clarity Act" next week, with a key provision triggering upheaval in the industry:
🔴 Prohibition of "passive income"
The draft proposes to halt the model where platforms pay interest solely based on users holding stablecoin balances. This means that the current "earn interest by holding" business of platforms like Coinbase faces a life-or-death test (related income previously accounted for nearly 20% of its total revenue).
🟢 "Activity-based" rewards are exempt
Unlike "easy earnings," user-specific activity rewards linked to trading, payments, and platform usage are still permitted, leaving room for compliant innovation.
📉 The market has reacted violently
After the draft content leaked, Circle (the parent company of USDC) saw its stock plunge over 20% in a single day, while Coinbase's stock fell about 10%. Industry giants are currently urgently drafting counter-proposals, and the game continues.
⚡️ After the draft is released next week, it will enter the Senate Banking Committee review stage in April. What direction will stablecoin regulation take? Binance Square will continue to monitor closely!
What do you think? Feel free to leave your thoughts in the comments 👇