May 12 : The U.S. Senate Banking Committee late on Monday unveiled the text of a long-awaited, landmark bill that would create a regulatory framework for cryptocurrencies ahead of a scheduled committee vote to advance the bill on Thursday.

Dubbed the Clarity Act, the bill aims to clarify financial regulators’ jurisdiction over the burgeoning sector, potentially boosting the adoption of digital assets. Here are five key provisions:

STABLECOIN REWARDS 

The most contentious provision of the bill deals with how crypto exchanges and other crypto players are allowed to pay rewards on dollar-backed crypto tokens called stablecoins. 

The bill bans rewards on idle balances of stablecoins that closely resemble bank deposits, but would allow…