Gate News reports that on March 26, a certain CEX once again informed the U.S. Senate that it cannot support the latest draft of the Clarity Act. The core disagreement lies in the provisions related to stablecoin yields. The latest bipartisan compromise, led by Senators Thom Tillis and Angela Alsobrooks, circulated this Monday. The plan proposes to prohibit cryptocurrency exchanges from paying users stablecoin yield, and to further restrict incentives by limiting access to trading volume data. The CEX expressed “serious concerns” about this. This is the second time the CEX has withdrawn support. In January, the same CEX withdrew support due to a Senate Banking Committee draft that included a ban on stablecoin yields. Its CEO, Brian Armstrong, stated at the time that the banking industry was lobbying to suppress competition from crypto platforms. The regulatory direction of stablecoin yields has significant financial implications for the CEX, which expects stablecoin-related revenue of $1.35 billion in 2025, mostly from revenue sharing arrangements with Circle for USDC. Recently, Circle’s stock price also plummeted, with Mizuho analysts attributing this to legislative deadlock over the Clarity Act.
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