New Senate CLARITY Act draft allows activity-based stablecoin rewards

A revised Senate CLARITY Act draft would allow activity-based stablecoin rewards tied to payments, wallets and staking, while barring interest paid solely for holding tokens.

A new US Senate CLARITY Act draft allows crypto companies to offer activity-based rewards to stablecoin users.

The proposal, titled the Digital Asset Market Clarity Act, reveals that certain rewards and incentives tied to the use of stablecoins would be permitted. Still, the provision notes that offering rewards does not cause a stablecoin to be treated as a security or a bank-like product.

“Families and small businesses benefit from clear rules of the road,” Senate Banking Chair Tim Scott, who released the amended draft, said in a statement shared with Cointelegraph. “This bill reflects months of serious work, ideas, and concerns that have been raised across the Committee, and it gives everyday Americans the protections and certainty they deserve,” he added.  

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