On May 12, according to Unfolded, the updated version of the Clarity Act by the US Senate Banking Committee explicitly prohibits stablecoin issuers from paying interest or providing economic equivalents solely based on users holding tokens, addressing a critical loophole that led Coinbase to withdraw its support for the bill earlier this year. The bill incorporates provisions related to the Blockchain Regulatory Certainty Act, exempting non-custodial DeFi developers and infrastructure service providers from compliance with regulations applicable to money transfer entities. A committee meeting to review the bill's revisions will be held soon. The bill completely avoids federal officials' ethical constraint clauses and does not address former President Trump's holdings of approximately $1.4 billion in crypto assets. Banking institutions believe the bill still poses risks of deposit outflows and financial stability; Democrats and figures like Elizabeth Warren criticize the absence of conflict of interest rules as unacceptable. Currently, the process for regulatory certainty in the industry has made some progress, but opposition from the banking sector and bipartisan disagreements on ethical clauses remain potential risks.