White House Advisor: Multiple disagreements over the "Clear Act" are gradually being resolved, and the compromise plan for stablecoin yields is expected to be maintained

ChainCatcher News, White House Digital Asset Advisor Committee Executive Director Patrick Witte said on Monday that substantial progress is being made in Senate negotiations over the Digital Asset Market Clarity Act, and the bipartisan compromise reached earlier on stablecoin yields is expected to be maintained, with negotiations shifting focus to other unresolved issues.

Stablecoin yield has previously been the biggest obstacle to advancing the bill. Banking industry lobbying groups successfully persuaded some senators that offering yields similar to bank interest to stablecoin holders would threaten the traditional banking deposit base, causing the bill to stall temporarily. Witte stated, “We hope the negotiated compromise can be durable and stable. Solving this issue is a prerequisite for advancing other pending matters.” Last week, the White House economic advisors released a report downplaying the banking sector’s risk concerns; in response, the American Bankers Association rebutted on Monday, claiming the White House’s arguments are flawed.

Beyond stablecoin yields, the bill also faces multiple disagreements, including protections against illegal finance in the DeFi space, and a Democratic proposal—specifically targeting prohibitions on senior government officials (including President Trump) profiting from the crypto industry. Witte did not disclose which issues have reached consensus but said negotiations “have made significant progress behind the scenes,” and added, “We are very close to fully resolving these issues.” Before being submitted for a full Senate vote, the Clarity Act still needs to undergo markup review by the Senate Banking Committee. Witte expressed optimism, noting that many issues that previously seemed deadlocked have been gradually resolved, making him hopeful for a final agreement.