U.S. Senators have reached a compromise on the stablecoin yield provisions within the Clarity Act, resolving a key issue that had delayed the bill's progress in the Senate. The agreement, finalized by Senators Tom Tillis and Angela Alsobrooks, includes a provision in Section 404 that prohibits crypto companies from offering interest or yields similar to bank deposits. However, it allows for incentives tied to genuine platform usage.
Coinbase CEO Brian Armstrong has urged the Senate Banking Committee to expedite the review of the bill, suggesting that this development could help move the legislative process forward after months of stagnation.
U.S. Senators Finalize Compromise on Stablecoin Yield in Clarity Act
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