Odaily Planet Daily reports: Summer Mersinger, CEO of the Blockchain Association and former commissioner of the U.S. Commodity Futures Trading Commission (CFTC), stated that the Clarity Act prohibits receiving payments solely through stablecoins and bans programs that are economically or functionally equivalent to interest on bank deposits, with penalties attached to such attempts. She noted that an August 4 editorial on the Clarity Act acknowledged that the bill will close the regulatory gray areas left by the previous administration, establishing rules that future governments cannot arbitrarily discard, thereby paving the way for innovations such as tokenized stocks and bonds.
Blockchain Association CEO: Clarity Act Bans Payments for Holding Stablecoins
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Summary
Blockchain news from the Clarity Act reveals it prohibits payments for holding stablecoins, according to Blockchain Association CEO Summer Mersinger. The bill also targets projects functionally equivalent to bank deposits and includes penalties. A recent editorial highlighted the bill’s role in resolving regulatory ambiguity and enabling innovations such as tokenized stocks. The blockchain upgrade aims to establish clear rules for investors and banks.
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