Crypto industry backs CLARITY Act yield compromise, pushes Senate Banking for markup
CoinDesk
The crypto industry supports a new CLARITY Act compromise that restricts stablecoin yield while allowing activity-based rewards, urging the Senate to act.Summary
The U.S. crypto industry has rallied behind a new compromise regarding stablecoin yield provisions within the Digital Asset Market Clarity Act. Developed by Senators Thom Tillis and Angela Alsobrooks, the bill prohibits stablecoin yield offerings that mimic bank deposits but permits rewards tied to genuine transaction-based activities. While industry leaders like the Blockchain Association and Circle’s Dante Disparte praised the progress, the Crypto Council for Innovation expressed concerns over the bill’s broad scope. Despite these reservations, stakeholders are collectively pressing the Senate Banking Committee to move forward with a markup of the legislation to ensure U.S. leadership in digital assets.
(Source：CoinDesk)