Mizuho analysts said the Clarity Act could hurt Circle over the long term because the company retains about 38% of USDC reserve income. According to NS3.AI, the bill could also invite more institutional competition into the stablecoin sector.
Republicans released the latest text for the legislation, and a full Senate vote could happen as soon as next week. The analysts said the proposal may change the competitive landscape for stablecoins if it moves forward.
Circle Faces Long-Term Pressure As Clarity Act Advances, Mizuho Says
2026-07-22 18:30:11
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