A draft of the CLARITY Act being worked on in the US has reportedly leaked in part.



The legislation includes a provision that would completely ban stablecoin issuers from providing yield and interest.

Circle — the main company behind USDC — saw CRCL shares experience a sharp drop of nearly 20% following this leak.

This legislation leak affects not just Circle, but the entire market.

If this is true and gets approved, we will face another situation that will negatively impact the market.

In the short term, it will trigger panic selling and decreased volume, while in the long term it will force the market to be more transparent, but the pain will be significant.
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