US Senate to vote on Clarity Act Sept 15; banks lobby against stablecoin yield

The Senate vote marks a pivotal moment for US digital asset regulation, with the SEC-CFTC split determining the industry's federal oversight structure. The heavy lobbying by both crypto groups and community banks highlights the high stakes: banks see stablecoin yields as a direct threat to their deposit base, while crypto advocates seek regulatory clarity. The key tension is whether the final bill will include the bank-backed amendment restricting stablecoin yields, which could significantly impact stablecoin adoption and the competitive landscape. The outcome of the September 15 vote, and subsequent amendments, will signal the direction of US crypto policy.