Stablecoin Compromise Advances CLARITY Act

The U.S. cryptocurrency industry continues to grow amid ongoing delays for the CLARITY Act, a bipartisan bill aimed at establishing a federal regulatory framework for digital assets, even as a key compromise on stablecoin yields was released last Friday by Senators Thom Tillis and Angela Alsobrooks.

The legislation, which cleared the House last July by a 294-134 vote with unanimous Republican support and backing from 78 Democrats, has faced Senate hurdles including stablecoin provisions, decentralized finance rules, and securing full Republican committee support. Senate Banking Committee Chairman Tim Scott identified these issues as resolvable within two weeks on April 14, 2026, though deadlines have slipped multiple times. The path forward requires committee markup, a 60-vote Senate floor threshold, reconciliation with the Agriculture Committee's Digital Commodity Intermediaries Act, a House-Senate conference, and presidential signature.

The new stablecoin text, addressing the primary remaining dispute between banking and crypto sectors, prohibits yields mimicking bank deposits on held balances but permits rewards linked to actual platform activity and transactions. Industry...