- A tentative deal has been struck between the White House and key senators on stablecoin yield, potentially advancing the CLARITY crypto market structure bill.
- The agreement in principle, reported by Politico, would “protect innovation” while prohibiting yield on “passive balances.”
- Senator Cynthia Lummis stated Congress is “so close” to passing a comprehensive framework, with a deal expected in the next few days after industry vetting.
Rumors of a breakthrough deal on stablecoin regulation circulated in Washington D.C. this week, potentially unblocking a major crypto market structure bill. According to a Friday report, Senators Thom Tillis and Angela Alsobrooks reached an “agreement in principle” with the White House. Senator Alsobrooks said the deal aims to “protect innovation” while preventing deposit flight from banks.
Specific details of the prospective agreement have not yet been publicly released. Consequently, Senator Tillis said the crypto industry must vet the framework before it is finalized.
Wyoming Senator Cynthia Lummis reinforced the momentum at the DC Blockchain Summit. “We are so close,” she declared regarding a comprehensive digital asset regulatory framework. A spokesperson for her office confirmed a deal is expected within days.
The Digital Asset Market Clarity Act of 2025 stalled in January after industry pushback. Key concerns involved whether stablecoin issuers could share yield with token holders.
Meanwhile, the banking industry opposes yield-bearing stablecoins over fears of eroding market share. However, White House advisor Patrick Witt argued those concerns are overblown. He contended fresh capital would likely enter the U.S. banking system if such stablecoins were regulated.
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