Circle, Coinbase tumbles as regulators move to ban interest on stablecoins
Stablecoin issuer Circle’s (CRCL) shares tumbled on Tuesday, after a draft version of U.S. stablecoin legislation raised concerns about limits on yield. The stock of the USDC issuer fell as much as 18% in the early U.S. session, snapping a weeks-long rally that saw more than 100% gain. Meanwhile, crypto platform Coinbase (COIN), which shares…