Tillis-Alsobrooks draft bans passive stablecoin yield, preserves activity rewards to unblock CLARITY Act
CoinTelegraph •
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Promote with Leviathan NewsSenators Tillis (R-N.C.) and Alsobrooks (D-Md.) will release draft language this week that bans passive stablecoin yield — no more interest just for holding dollar-pegged tokens — while preserving activity-based rewards tied to payments and platform engagement. The compromise targets a stalemate that's frozen the CLARITY Act in the Senate Banking Committee since January, though both banking lobbies and crypto firms have already flagged fresh concerns with the draft. Three White House-mediated meetings haven't closed the gap, and Senator Moreno warns that if the bill doesn't reach the floor by May, crypto legislation goes dark until after midterms.
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More coverage
- Report: Senators reach deal on stablecoin yield | ABA Banking Journal (bankingjournal.aba.com)
- Banks, crypto firms battle over stablecoin yield - Banking Dive (bankingdive.com)
- Tillis Readies Compromise Draft to Break Senate Deadlock on ... (binance.com)
- COINBASE REJECTS LATEST SENATE STABLECOIN YIELD ... (x.com)
- POLITICO: Senators, White House strike 'agreement in principle' to ... (alsobrooks.senate.gov)
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