---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39485541.md"
description: "The latest development of the Clarity Act regarding stablecoin interest-bearing is to prohibit platforms from providing yields "directly or indirectly" for holding stablecoins or in a manner similar to bank deposits. This restriction will broadly apply to digital asset service providers (exchanges, brokers, etc.) and their affiliated companies to limit circumvention and prohibit any actions "economically or functionally equivalent to" interest.Only rewards linked to user activities are permitted, including loyalty programs, promotions, or subscription plans, provided these rewards are not considered economically or functionally equivalent to interest.This is the proposal closest to reaching a consensus. Next, the banking committee will review this proposal this week.$Coinbase(COIN.US)$Circle(CRCL.US)$IShares Ethereum Trust ETF(ETHA.US)"
datetime: "2026-03-24T14:56:53.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39485541.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39485541.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39485541.md)
author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)"
---

# The latest development of the Clarity Act regardin…


### Related Stocks

- [COIN.US](https://longbridge.com/en/quote/COIN.US.md)
- [CRCL.US](https://longbridge.com/en/quote/CRCL.US.md)
- [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md)
- [CONL.US](https://longbridge.com/en/quote/CONL.US.md)
- [07311.HK](https://longbridge.com/en/quote/07311.HK.md)

## Comments (27)

- **牛牛快来16888 · 2026-03-24T17:05:45.000Z · 👍 3**: I have a question: do users buy stablecoins to earn interest? Probably not, it's more for payment purposes. If it's for earning interest, there are actually more interest-bearing assets to choose from in the market. But this bill hasn't changed the development path of stablecoin payments, so I don't
  - **八菲特** (2026-03-25T02:17:57.000Z): The market misjudged it.
  - **lyhalfway** (2026-03-25T04:00:32.000Z): Previously it was Yu'e Bao, now it's credit card spending cashback. For users who pay with stablecoins, their payment needs won't be affected. However, some users find it convenient to convert to stab
- **Hskyyyy · 2026-03-24T16:02:22.000Z · 👍 2**: Opened the app and was shocked, immediately came to Uncle Yaren for some psychological massage 💆‍♀️ hahaha
- **奇迹的交易员cola · 2026-03-24T15:49:50.000Z · 👍 6**: It does not affect the underlying assets, clarifying that this restriction only targets the distribution behavior between the platform and users. The interest generated from the reserves of stablecoin issuers, such as U.S. Treasury bonds, still belongs to the issuers and is not covered by this restr
- **‭‭‭‭ · 2026-03-24T15:30:06.000Z · 👍 3**: For HOOD, transitioning from a mere trading app to a "super financial app," today's decline is due to panic before the regulatory shoe drops. However, as long as the bill provides clear boundaries (even if restrictive), it actually clears legal obstacles for Robinhood, which wants to operate
- **秦哥小迷弟 · 2026-03-24T15:14:28.000Z**: Bro, talk about Microsoft
  - **lyhalfway** (2026-03-24T15:17:08.000Z): Just hold onto it.
  - **‭‭‭‭** (2026-03-24T15:41:10.000Z): Nothing to say! If Microsoft isn't good, who is? Hold with confidence!
- **粉红色菠萝 · 2026-03-24T15:07:45.000Z**: Wasn't this news announced a few days ago, around the 20th? Why is it only reflected in the stock price today? Couldn't the market maker wait any longer? 🤣
  - **lyhalfway** (2026-03-24T15:09:34.000Z): No, only today did we get the definitive details from both sides; before that, it was just a possible plan.
- **亿万富翁雪糕 · 2026-03-24T15:01:51.000Z**: Fake news
  - **lyhalfway** (2026-03-24T15:05:11.000Z): See for yourself
  - **浙江忧郁二代** (2026-03-24T15:06:26.000Z): @一发入魂 1
  - **一发入魂** (2026-03-24T15:07:40.000Z): i here🤪
- **风启 · 2026-03-24T15:01:08.000Z · 👍 1**: This "loyalty program, promotional activity, or subscription plan" indirectly benefits the subscription model.
  - **lyhalfway** (2026-03-24T15:07:04.000Z): Hmm, need to change some forms.
- **ELSE_YE · 2026-03-24T14:58:42.000Z**: What impact does hood circle have?
  - **lyhalfway** (2026-03-24T15:01:26.000Z): Short-term bearish for Circle Coin, long-term bullish for the crypto ecosystem.
  - **天蝎大魔王** (2026-03-24T15:05:19.000Z): Uncle Ya, will it have an impact on Ethereum?
  - **lyhalfway** (2026-03-24T15:06:33.000Z): Any progress in the review of the bill is bullish for Ethereum.