U.S. Senators Seek Compromise on Stablecoin Yields to Advance Stalled CLARITY Act
According to market news, U.S. senators are trying to push forward the stalled cryptocurrency market structure bill, the CLARITY Act, through a compromise on the issue of stablecoin yields.
The banking industry had previously successfully lobbied to pause the bill due to concerns that stablecoin yields would siphon off bank deposits. Maryland Senator Angela Alsobrooks, who is involved in the negotiations, stated at a banking summit that both sides may need to "compromise a bit" to allow for innovation growth while preventing deposit outflows. Senator Mike Rounds pointed out that yields should be tied to account activity rather than the amount held.
JPMorgan CEO Jamie Dimon hinted at the acceptability of a transaction-based yield model, which is also the position put forth by the cryptocurrency industry at the White House meeting. The recent rules proposed by the Office of the Comptroller of the Currency leave considerable room for customer incentive-based yield programs. Although the banking industry continues to emphasize the risks of yield loopholes to their business models, the bill could still advance to committee review if senators reach an agreement on the new compromise.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Changes for Cryptocurrency Owners in Russia from September 1, 2026

Ripple Launches Delta One Business to Enter Stock Trading Market

YZi Labs Invests $12 Million in EASY Residency Season 4

Three Former Moscow Police Officers Sentenced to Up to 14 Years for Embezzling Garantex Client Assets

Global Taxable On-Chain Crypto Activity Reaches $457 Billion by 2025, CARF Coverage Only 14%

77% of Americans Believe Including Cryptocurrency in Retirement Plans is Risky

Trezor User Reports New Wave of Phishing

Network for Sanction Evasion Discovered in Ukraine via Cryptocurrency Exchange

39 U.S. State Bank Associations Form BankChain Alliance, Plan to Launch Blockchain Network by 2027

Block Bits Founder Japheth Dillman Convicted of Telecom Fraud

Visa Expands $7 Billion Stablecoin Settlement Pilot and Seeks External Partners

Kidnapping for 3,000 euros in crypto in Jouy-en-Josas

The9 reports $32.4M net income, $13.4M operating loss, driven by 9BIT token gains

Kraken Faces Nearly 12,000 Dust Attacks, Some Customer Accounts Inaccessible

Dreame Technology Restructures into Four Major Businesses

Dunamu Confirms Contact with SEC and CFTC, Plans to Establish IPO Committee

U.S. Leverage Risks Warn of Third Wave of Financial Crisis

Paybis Expands Payment Options to Over 20 Methods

CCI and Blockchain Association Sue Illinois Over 0.2% Digital Asset Tax

BTC Digital Completes Construction of 10MW Mining Facility in Georgia, Expected to Begin Operations in Two Months

ECB Defends Digital Euro Privacy Design, Claims User Identities Cannot Be Identified

Parfin Provides Infrastructure for Virtual Asset Service Providers Until October 30

Lu Yao: The bear market is not over, 99.9% of altcoins are not worth buying

Gotsiridze: Crypto Farms in Georgia Strain the Energy Sector

IT Specialists Arrested in North Korea for Laundering State Funds via Cryptocurrency

14.3% of Bitcoin Respondents Report Actual Purchase Increase

Foreign Accounts Total 566,352, Active Accounts Only 90

Canada is the Worst Country for Cryptocurrency Scams

ZachXBT Announces Access Restrictions for Cryptocurrency Victim Support by Country








