The controversy surrounding stablecoin yields exacerbates the division within US banks, hindering the progress of the Clarity Act.

CoinFeed reported on May 6th that, according to Crypto In America, a compromise regarding stablecoin yields is causing a split within the US banking industry. Consumer-oriented banks, represented by the American Bankers Association, oppose the current bill text, arguing that it fails to completely ban stablecoin yields and leaves regulatory loopholes. Meanwhile, institutions like Goldman Sachs support pushing forward to gain broader access to crypto businesses. The Clarity Act would clarify the legality of banks participating in crypto trading and staking activities, and the bill is currently about to enter the committee review stage.