According to CoinMeta, the debate regarding the CLARITY legislation is intensifying, with stablecoin rewards and their potential impact on community banks becoming the main points of contention. Supporters argue that existing deposit data does not indicate that stablecoins have led to a loss of deposits. Senator Cynthia Lummis countered, stating that stablecoins have not driven away deposits, and cited data from Merrill Lynch (BofA) showing that household deposits have increased across all income groups. A FDIC report also indicates that domestic deposits have been growing for seven consecutive quarters. Lummis emphasized Section 404 of the CLARITY legislation, which prohibits stablecoin issuers from paying rewards similar to interest and forbids the promotion of stablecoins as bank deposits or FDIC insurance products. Analyst James E. Thorn pointed out that historical deposit data does not support the claim that stablecoin yields have caused a loss of deposits. U.S. commercial bank deposits have increased from about $12 trillion to $19.4 trillion, and the decline in 2022-2023 coincides with rising interest rates and banking pressures. Community banks face challenges, and restricting stablecoin rewards will not solve these problems.