Senators reach stablecoin yield compromise in CLARITY Act.
Senators Thom Tillis and Angela Alsobrooks have reached a compromise regarding the yield of stablecoins in the CLARITY Act, a bill on regulating the US crypto market. This was reported by Punchbowl News, citing the finalized part of the document.
SCOOP: Sens. Tillis and Alsobrooks have finalized a compromise on stablecoin yield. Punchbowl News has the text
— bans rewards that are “economically or functionally equivalent” to deposit interest
— balances *can* be used for rewards if companies clear the “equivalent” test pic.twitter.com/7dHsS8BnpT
— Brendan Pedersen (@BrendanPedersen) May 1, 2026
The text states that no crypto company can pay “any interest or income” to clients solely for holding stablecoins, similar to a bank deposit or any other analogous product.
According to the new wording, the ban on paying rewards extends not only to issuers but also to third-party platforms, such as cryptocurrency exchanges. Platforms cannot pay income from coins on inactive balances.
However, the document includes provisions that allow companies to pay rewards linked to “bona fide activities.”
The text also calls on regulators to propose a new set of rules for stablecoins, including the development of a disclosure regime and a list of permissible activities related to additional income.
Community Reaction
Industry representatives reacted ambiguously to the final version of the text, although many agreed that this step significantly advanced the bill’s adoption.
“In the end, banks managed to tighten restrictions on rewards, but we preserved what truly matters — the ability for Americans to earn rewards for real use of crypto platforms and networks,” stated Coinbase’s Chief Legal Officer Faryar Shirzad.
Meanwhile, Helius Labs CEO Mert Mumtaz expressed confusion as to why investors are “not allowed to earn risk-free returns on their funds without using banks.”
Head of Corporate Research at Galaxy Digital Alex Thorn stated that the publication of the text indicates the Senate Banking Committee’s readiness to set a date for the document’s consideration. The hearing is expected to take place the week after May 11.
However, Thorn warned of “increased opposition from banks.”
Back in April, Senator Tillis reported a possible postponement of the CLARITY Act’s consideration.
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