Circle Soars 20% as CLARITY Act Deal Preserves Stablecoin Rewards
- Source
- CNBC
- Time
- 10:17 PM
- Weight
- 94/100
Shares of Circle Internet Group surged nearly 20% following a legislative compromise on the CLARITY Act, a market structure bill targeting the cryptocurrency sector. The updated language in the proposed bill preserves the ability of stablecoin issuers to offer reward programs, provided they are tied to specific activities such as trading, staking, or transactions.
This development provided a significant boost to other industry players as well, with Coinbase and BitGo seeing notable gains as regulatory uncertainty around stablecoin incentives began to clear. The compromise distinguishes between passive, savings-like interest—which will remain the exclusive domain of traditional banks—and usage-driven incentives.