Crypto trade groups backed a CLARITY Act compromise barring stablecoin yields like bank deposits, while allowing rewards from bona fide activities; it also directs Treasury and CFTC to issue rules within a year, with other points unresolved.Abstract: The article reports that crypto trade groups backed a compromise text of the CLARITY Act that prohibits crypto firms from paying interest or yield on stablecoin balances in a way resembling bank deposits, while allowing rewards tied to bona fide activities. It calls for Treasury and the CFTC to establish implementing rules within one year of enactment, leaving other negotiation points unresolved.

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2026-05-02 16:17:23

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Crypto trade groups backed a compromise text on stablecoin yield in the CLARITY Act and urged Senate Banking to mark up the bill. The text bars crypto firms from paying interest or yield on stablecoin balances in a manner equivalent to a bank deposit, but it allows rewards tied to bona fide activities or transactions. The compromise also directs Treasury and the CFTC to write rules within a year of enactment, while other negotiation points remain unresolved.

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Crypto Groups Back CLARITY Act Stablecoin Yield Deal, Urge Senate Markup

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