The profit rules for the "CLARITY Act" stablecoin have been finalized, entering the "launch phase"

BlockBeats News, May 2nd, Coinbase Chief Legal Officer Faryar Shirzad stated that the “CLARITY Act,” which aims to provide more regulatory clarity for the U.S. crypto industry, may be closer to becoming law following the announcement of new stablecoin yield provisions. Previously, U.S. Senators Thom Tillis and Angela Alsobrooks released the final text aimed at resolving the dispute over stablecoin yields between the banking sector and the crypto industry—the core of this dispute being whether such yields would harm the competitiveness of the banking system. Shirzad said, “Ultimately, the banking industry has secured more restrictions on rewards, but we have held onto what truly matters—the ability of Americans to earn rewards based on genuine use on crypto platforms and networks.”

The text of “SEC 404. Prohibition on Paying Interest and Yields on Payment Stablecoins” stipulates that crypto companies cannot pay “any form of interest or yield” to customers solely because they hold stablecoins, similar to bank deposits or any other interest-bearing products. However, this rule allows companies to offer rewards linked to “genuine activity.” Some industry executives have expressed dissatisfaction with this ruling. Helius Labs CEO Mert Mumtaz said, “There is no ‘clarity’ in earning risk-free dollar yields without using banks.”

This is an important step for the legislation and the broader crypto industry, as the dispute over stablecoin yields has long been a major obstacle delaying its passage, despite industry expectations earlier this year that it would pass through Congress. Traders on the Polymarket crypto prediction market currently estimate a 55% chance that the CLARITY Act will be signed into law in 2026, up 9 percentage points on Friday. Galaxy Digital Research Director Alex Thorn said, “The release of the text means that the Senate Banking Committee will immediately schedule markup hearings, possibly as early as the week of May 11.” But he warned that “the banking industry is expected to intensify opposition.” U.S. Senator Bernie Moreno recently stated that he expects the CLARITY Act to be “completed” before the end of May.