U.S. Senate Reaches Bipartisan Agreement on Key Stablecoin Provision in Clarity Act
Republican and Democratic senators have struck a preliminary deal on stablecoin yield rules, potentially clearing a major obstacle for landmark U.S. crypto legislation.
A bipartisan breakthrough may be within reach for the U.S. Clarity Act, as Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks have reached an agreement "in principle" on one of the bill's most contested issues, according to a Politico report [1].
The compromise centers on prohibiting yield payments on passive stablecoin holdings — a measure Alsobrooks described as balancing the need for innovation against risks to the broader banking system [1]. Full details of the agreement have not yet been made public, and Tillis noted the crypto industry would need time to review the proposal before any formal endorsement. An official White House response is also still pending [1].
The Clarity Act has been considered one of the most significant pieces of crypto legislation under consideration in the U.S. market. Progress stalled earlier this year amid industry concerns over whether stablecoin issuers should be permitted to pass yields on to token holders [1].
Banking sector opposition has intensified throughout the debate, with financial institutions warning of potential capital outflows if yield-bearing stablecoins receive regulatory approval [1]. White House digital assets advisor Patrick Witt pushed back on those concerns, arguing that properly regulated stablecoins could ultimately attract new capital into the banking system [1].
Senator Cynthia Lummis, speaking at the DC Blockchain Summit, expressed optimism that a comprehensive deal could be finalized within days [1].
Sources
- [1]btc-echo.de
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