Draft CLARITY Act Would Ban Idle Stablecoin Yields, Impose Penalties Up to $500,000 per Day

The White House advanced stablecoin discussions at ETHDenver on Friday, with draft CLARITY Act language prohibiting idle stablecoin yields while permitting activity-based rewards, Crypto in America reports. Civil penalties could reach $500,000 per day, enforced by the SEC, Treasury, and CFTC.