U.S. Senators reach a compromise on stablecoin yield provisions, potential obstacles to the Clarity Act may be removed
U.S. lawmakers have reached an agreement on the stablecoin yield provision, which had previously stalled the Clarity Act in the Senate for months.
Senators Tom Tillis and Angela Alsobrooks have finalized the text of the relevant compromise, which stipulates in Section 404 that crypto companies may not offer interest or yields that are economically or functionally equivalent to bank deposits, but allows for activity incentives related to the use of real platforms. Coinbase CEO Brian Armstrong stated that the Senate Banking Committee should be urged to review the bill as soon as possible. This progress may provide the conditions needed to advance the previously stagnant review process.
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