Circle Stock Tumbles 20% on Newest Clarity Act Draft | CoinDesk Daily

Circle and Coinbase shares fell following new Clarity Act's stablecoin rules. Circle shares fell 20% and Coinbase dropped about 10% after a draft of the U.S. Clarity Act raised the prospect of strict limits on stablecoin yield. The sell-off also comes as rival Tether moved to bolster confidence by hiring a Big Four accounting firm for a full audit. CoinDesk's Jennifer Sanasie hosts CoinDesk Daily. - Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against …