Sam Harrison

I think the CLARITY Act and the GENIUS Act necessitate a little bit of explanation about how things like SoFiUSD and USDC are actually different. SoFiUSD = Tokenized Deposit. Real Fiat in a bank account. Tokens used on crypto payment rails. USDC = Collateralized Token. Backed by a treasury. Similar outcomes (stables on blockchain), different constructions and different rewards/regulations.

Apparently, the new CLARITY Act bill will ban "passive yield" on stablecoins. Good for players like SoFiUSD that function as a payment rail rather than a savings account. Less good for players like Coinbase that will have a revenue hit from the reward ban.

- SoFiUSD & the Clarity Act $SoFi - CLARITY Act : Senators Tillis & Alsobrooks reached a deal with the White House on stablecoin yield — biggest roadblock removed - The Compromise: Bans passive yield (just for holding) to protect bank deposits; allows activity-based rewards (tied to payments/transfers/use) - Impact on SoFiUSD: Neutral on yield, SoFiUSD is a pure payment/settlement stablecoin with no passive interest today - Big Win for SoFiUSD: Provides long-awaited regulatory clarity for bank-issued stablecoins; reduces competition from high-yield non-bank tokens - Overall Effect: Positive , clears path for broader CLARITY Act passage, boosts adoption of SoFiUSD in payments, Mastercard settlements & enterprise use - Bottom Line: Bank-friendly outcome that strengthens SoFi’s position as a regulated leader in stablecoin infrastructure. No downside for current holders.