Why banks and offshore hubs like Dubai are winners of the Senate killing the Clarity Act
Why now
Thesis: Stablecoin yield rules unsettled, favoring banks over crypto issuers
Catalyst to watch: Follow-on crypto regulation or enforcement actions
Main risk: Offshore shift weakens US crypto competitiveness
Why it matters
Killing the Clarity Act leaves stablecoin yield rules unsettled, favoring incumbent banks over crypto-native issuers and pushing activity to offshore hubs.
Details
One expert believes that the failure to pass the bill is a win for the banks that staunchly oppose stablecoin yields, while a global crypto lawyer believes overseas jurisdictions benefit.
Sources
- coindesk · 2026-09-21 14:53 UTC