# "Clarity Act" Stablecoin Yield Provisions Exposed: Activity Rewards Permitted, Balance Yields Prohibited

Recently, the cryptocurrency industry saw the first legislative language on stablecoin yields in the revised version of the "Digital Asset Market Clarity Act," but the provision's first impression is that its scope is too narrow and its meaning is not sufficiently clear.

According to informed sources, new provisions announced Friday by Senators Angela Alsobrooks and Thom Tillis will prohibit yield payments based solely on holding stablecoins, restrict any practices equivalent to bank deposit interest, and impose further limitations on other potential activities.

Specifically, the banking industry has firmly advocated that stablecoin yields should never be paid like bank deposit interest, as they could act as competing products that weaken banking operations and suppress lending.

As a compromise, the new bill permits reward programs based on user stablecoin activities (rather than balances). This adjustment is intended to break the legislative deadlock and enable the bill to receive a hearing opportunity in the Senate Banking Committee.

Currently, the "Clarity Act" is making significant progress. Last year, a similar version of the bill was approved in the House, and another version also passed a markup hearing in the Senate Agriculture Committee.

The upcoming review by the Banking Committee is crucial. Once it passes, lawmakers can prepare the final merged version for submission to a full Senate vote.

While a preliminary compromise was reached on stablecoin yield issues, legislators currently still need to resolve controversial provisions including DeFi regulatory approaches and prohibitions on senior government officials profiting from the cryptocurrency industry. These issues will continue to affect the final passage and implementation of the bill.

Although last year's "Guidance and Establishment of American Stablecoin National Innovation Act" became the first major U.S. law regulating the cryptocurrency industry and was viewed as a major victory, this is only the first step of a policy "two-step approach," with the final step being concluded by the "Clarity Act."

In summary, if cryptocurrency can fully enter the American financial system, it will eliminate regulatory uncertainty faced by investors hesitant about participating in the industry, and this move will also clear the final obstacles for institutional investors and technology developers.

#CLARITY法案 # Stablecoin Yields