[Bernstein: Clarity Act Benefits USDC Model] According to The Block, Bernstein stated that the U.S. 'Clarity Act' restricts stablecoin balance payments from earning deposit interest but retains transaction and payment reward mechanisms, which benefits Circle's USDC float income model. Currently, the total supply of USD stablecoins exceeds $300 billion, with USDC and USDT accounting for approximately 97%. USDC accounts for over 99% of global x402 Agentic Payments settlements.