Stablecoin rewards proposal adds another dimension to CLARITY debate

A bank-focused stablecoin amendment gained support from seven Republican lawmakers ahead of the CLARITY Act vote, according to the reported proposal.
The amendment would broaden the definition of bank-like interest, potentially making certain stablecoin rewards easier to restrict. It had 11 co-sponsors, including six additional Republicans, and three of the four Republicans who ultimately opposed CLARITY were among its supporters.
The amendment was never added because the CLARITY Act failed before debate began, leaving the proposed stablecoin-reward changes unadopted.