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Circle may benefit from CLARITY Act provision, Bernstein says

A provision in the CLARITY bill being discussed in the U.S. Senate could work in favor of USDC issuer Circle, an analysis said. Bernstein said the measure could limit interest-rate competition among stablecoin issuers by banning deposit-like interest on simply held balances while allowing rewards tied to transactions and usage. It said Circle’s partner-based rewards model may fit within the permitted scope, helping protect returns from USDC reserves, though the bill’s passage remains uncertain.