Garlinghouse replied directly to Sacks on social media platform X on Feb. 28, writing:
“The door to a deal is wide open. The banks just need to act in good faith and walk through it.”
A day earlier, on Feb. 27, Sacks shared on X:
FAQ 🧭 What is the Clarity Act and why does it matter for investors? The Act aims to create a federal framework for digital assets, potentially reducing regulatory uncertainty for crypto markets. How could stablecoin yield rules impact the crypto market? Allowing limited yields could reshape competition between banks and stablecoin issuers while influencing capital flows. Who would regulate crypto under the proposed structure? The SEC and CFTC would be expected to share oversight under the proposal, defining clearer jurisdiction across digital asset activities. Why are negotiations facing resistance from banks? Banks have raised concerns about stablecoins sharing reserve-generated interest with holders.
