#Gate广场五月交易分享 Key Compromise in U.S. Cryptocurrency Legislation Reached: Stablecoin Yield Terms Break the Ice, “CLARITY Act” to Accelerate

After months of intense negotiation, U.S. cryptocurrency market-structure legislation has finally reached a major breakthrough.
After months of intense negotiation, U.S. cryptocurrency market-structure legislation has finally reached a major breakthrough. Senators Thom Tillis and Angela Alsobrooks have reached a comprehensive agreement on stablecoin yield provisions, clearing major obstacles for the advancement of the “CLARITY Act” in the Senate.
According to the obtained text, this compromise places significant restrictions on the rewards and returns that stablecoins can offer. The agreement clearly states that it will prohibit all reward mechanisms that are “economically or functionally equivalent to” interest on bank deposits. This broad restriction is intended to prevent stablecoins from directly competing with traditional bank savings products, responding to the banking industry’s long-standing concerns about “deposit flight.”
However, the agreement did not adopt a blanket ban; instead, it preserves a considerable degree of flexibility. Stablecoin balances may be used for reward mechanisms, but they must pass an “equivalence test.” This means that cryptocurrency companies can still offer incentives to users under specific conditions, but high-yield models that mimic the structure of bank interest will be blocked.
Coinb’s Chief Policy Officer, Faryar Shirzad, confirmed the breakthrough on social media and revealed that the final text has been released. He noted that after months of negotiations, Coinb, the White House, the Treasury Department, and Senate officials ultimately reached consensus. “In the end, the banking side secured more restrictions on rewards, but we protected the most valuable thing—Americans’ ability to earn from the real usage of cryptocurrency platforms and networks,” Shirzad said. In the current geopolitical environment, maintaining U.S. leadership in the field of financial innovation is crucial.
The compromise has become a key lever point for driving the entire cryptocurrency market-structure legislative effort. The bill aims to define the regulatory jurisdiction of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission over different areas of the digital-asset ecosystem. With the stablecoin yield issue addressed, the legislative process is expected to enter a fast track.
It is understood that the bill has also made important progress in areas including token classification, decentralized finance regulation, and asset tokenization, and that the final text of the “CLARITY Act” is expected to be finalized soon and submitted for a vote by the Senate Banking Committee.
Concerns from the banking industry that stablecoin yields could siphon deposits were a major sticking point that led to legislative stagnation. The agreement reached this time both gives the banking system stronger control and preserves core customer-acquisition and incentive space for the cryptocurrency industry. The market views it as a pragmatic step toward clarifying U.S. cryptocurrency regulation.