A tentative agreement “in principle” has reportedly been reached between the White House and US senators on stablecoin yield, potentially advancing the CLARITY crypto market-structure bill, Politico reported Friday.
Republican Sen. Thom Tillis and Democratic Sen. Angela Alsobrooks, both on the Senate Banking Committee, are said to have struck the deal. Alsobrooks said it aims to “protect innovation” while preventing widespread deposit flight, and that the agreement would bar stablecoin yield on “passive balances.” Specific terms have not been released, and Tillis said the crypto industry must vet the proposal before it is finalized. Cointelegraph contacted the White House for comment but received no response by publication.
Wyoming Sen. Cynthia Lummis, a leading advocate for crypto policy, told the DC Blockchain Summit the market-structure bill is “so close” to passing. A Lummis spokesperson said a deal is expected in “the next few days” and that she is working on ethics language for the bill.
The Digital Asset Market Clarity Act of 2025 (the CLARITY Act) is a major piece of crypto legislation that had been expected to move smoothly after the GENIUS stablecoin framework was enacted. The bill stalled in January after industry figures, including Coinbase, raised concerns—chiefly whether stablecoin issuers could share yield with token holders.
Banks oppose yield-bearing stablecoins, warning they could erode bank deposits and market share because bank deposit rates are far lower. Patrick Witt, executive director of the White House Council of Advisors for Digital Assets, said those fears are overblown and predicted that regulated, dollar-pegged yield-bearing stablecoins could bring fresh capital into the US banking system.
Cointelegraph is committed to independent, transparent journalism. This article follows Cointelegraph’s Editorial Policy and aims to provide accurate, timely information; readers are encouraged to verify independently.
