CLARITY Act aims to boost digital asset rewards for banks

The CLARITY Act, currently under Senate consideration, seeks to establish rules for digital assets, allowing consumers to earn rewards on stablecoins similar to those earned on credit card spending.

A 2025 analysis by Charles River Associates, reviewing data from 2019 to 2025, found little link between stablecoins and community bank deposits, while FDIC data indicates deposits at smaller banks have risen by more than 25% during that period.

Senator John Curtis of Utah, who has long championed the state’s entrepreneurial and tech sectors, argues that supporting the CLARITY Act as written will preserve existing benefits and prevent banks from diluting competition.

Read the full story at deseret.com.