A preliminary agreement ‘in principle’ has reportedly been reached between the White House and U.S. senators over how yield on stablecoins should be handled, potentially clearing the way for progress on the CLARITY market-structure bill, Politico reported Friday.
Republican Sen. Thom Tillis and Democratic Sen. Angela Alsobrooks, both members of the Senate Banking Committee, are said to have struck the understanding. Alsobrooks described the proposal as aiming to ‘protect innovation’ while preventing broad deposit flight and said it would bar stablecoin yield on ‘passive balances.’ Details of the proposal have not been released. Tillis said the crypto industry must review and vet the language before it is finalized. Cointelegraph reached out to the White House for comment and had not received a response by publication.
Wyoming Sen. Cynthia Lummis, a prominent crypto policy advocate, told the DC Blockchain Summit that the market-structure bill is ‘so close’ to passage. A spokesperson for Lummis said a deal is expected ‘in the next few days’ and that she is continuing to work on ethics-related language for the measure.
The Digital Asset Market Clarity Act of 2025 (the CLARITY Act) is a major piece of crypto legislation that had been expected to move after enactment of the GENIUS stablecoin framework. The bill stalled in January after industry participants, including Coinbase, raised concerns—chiefly whether stablecoin issuers would be permitted to share yield with token holders.
Banks have opposed yield-bearing stablecoins, warning they could siphon deposits and market share because typical bank deposit rates remain far lower than some crypto yields. Patrick Witt, executive director of the White House Council of Advisors for Digital Assets, said those concerns are overstated and suggested that regulated, dollar-pegged yield-bearing stablecoins could deliver fresh capital into the U.S. banking system.
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