Stablecoin Yield Deal Could Be Done in All but Name: The Last 1% May Be the Dangerous Part

Senate Republicans, including Senators Lummis, Tillis, and Scott, met with White House Crypto Council Executive Director Patrick Witt and reported being 99% resolved on stablecoin yield provisions within the Digital Asset Market Clarity Act (CLARITY Act). Senator Lummis indicated the remaining friction is political, not technical, and the focus is shifting to stakeholder outreach. Analysts suggest the current compromise may favor traditional banks, potentially requiring firms like Coinbase to accept weaker terms. Further complicating the path forward are unresolved issues like potential last-minute vote trading, ethics legislation links, and Republican consideration of attaching community bank deregulation provisions. Despite positive signals, such as a cryptic post from Senator Lummis, closing this final 1% of the deal before the midterm elections remains uncertain, with the bill still facing several legislative steps, including a Senate Banking Committee markup.

(Source：BeInCrypto)