U.S. Senator: All parties may need to compromise on the Stablecoin "Clarity Act"

According to a report by journalist Eleanor Terrett, at the American Bankers Association (ABA) summit in Washington, Senator Alsobrooks told community bankers that all parties may need to make compromises in the advancement of the Clarity Act, stating that "perfection cannot be an obstacle to achieving goals."

She revealed that she is working with Senator Thom Tillis on a compromise plan aimed at preventing deposit outflows while leaving room for innovation.