Circle stock drops nearly 20% as CLARITY Act draft targets stablecoin yield
Circle shares dropped nearly 20% Tuesday, falling toward the $100 level after a CoinDesk report revealed new draft language in the CLARITY Act that would ban yield on stablecoin balances. The proposed rules would prohibit issuers from offering passive rewards for simply holding a stablecoin and restrict structures that resemble interest-bearing deposits. While activity-based rewards
