A friend asked me, if the CLARITY Act is bearish for $CRCL, then is it also bearish for USD1?

This needs to be elaborated a bit because the CLARITY Act restricts stablecoins compliant in the US and exchanges compliant in the US, and #Coinbase is a compliant exchange in the US, so Coinbase cannot directly subsidize CRCL.

But now the collaboration with USD1 is with #Binance, and Binance is not compliant in the US, and does not even have US users; that is one reason. It will be much lighter compared to CRCL.

Secondly, the rewards for holding USD1 from Binance are not like the direct 'money' given by Circle and Coinbase, but rather the payment of the $WLFI Token. Although the payment Token is also due to holding, it cannot directly circumvent the CLARITY Act.

However, the CLARITY Act also leaves a loophole; if WLFI is a third party "independently subsidizing" from Binance, then for the issuer of USD1, it may not be directly considered as interest payment.

Of course, the most important factor is still the main partners of CRCL. If the partners are inherently not US exchanges, there will still be some issues, but it will be simpler compared to US exchanges.

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