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U.S. Senators reach a compromise on stablecoin yield provisions, potentially removing obstacles to the Clarity Act’s progress
Mars Finance News: U.S. lawmakers have reached an agreement on the stablecoin yield clause, which previously caused disagreements that delayed the Clarity Act in the Senate for several months. Senator Tom Tillis and Angela Alsobrooks have finalized the relevant compromise text, with Section 404 stipulating that crypto companies shall not offer interest or yields that are economically or functionally equivalent to bank deposits, but are allowed to provide activity incentives related to real platform usage. Coinbase CEO Brian Armstrong stated that the Senate Banking Committee should be urged to review the bill as soon as possible. This development may provide a push for the previously stalled review process.