Summary
- Republican U.S. Senator Josh Hawley said he would vote against the current version of the CLARITY Act.
- Hawley said reward programs linked to stablecoins and deposits at cryptocurrency exchanges could draw deposits away from community banks.
- He said the bill should include stricter limits on rewards offered by crypto platforms.
Forecast Trend Report by Period
Republican Senator Josh Hawley said he would vote against the current version of the CLARITY Act, according to a Politico report published Aug. 5.
Hawley cited concerns from the financial industry that reward programs linked to stablecoins and deposits at cryptocurrency exchanges could draw deposits away from community banks.
He argued that the bill should include stricter limits on rewards offered by crypto platforms.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.