A turning point could be near for crypto regulation in the United States. According to multiple sources, the White House and members of Congress have reportedly reached a preliminary agreement on stablecoins, boosting the chances of adoption of the highly anticipated CLARITY Act.
A compromise has been reached on one key point: yields. At the heart of the discussions are stablecoins generating yield, a particularly sensitive topic for the banking sector.
Politico reports that Senators Thom Tillis (Republican) and Angela Alsobrooks (Democrat) have found common ground. The compromise would aim to prohibit yields on passively held stablecoins, while leaving room for innovation.
For Angela Alsobrooks, this balance would both protect innovation and prevent a phenomenon feared by banks: the mass exodus of deposits towards more attractive digital alternatives.
The exact details of the agreement remain unclear, and the text will need to be examined by industry players before any final approval.
The CLARITY Act, officially known as the Digital Asset Market Clarity Act of 2025, is seen as a central piece of American crypto regulation. After the adoption of the stablecoin framework via the GENIUS Act, its passage seemed assured.
However, the project was delayed in January, especially after industry criticisms. Major players like Coinbase raised concerns about the ability for stablecoin issuers to share yields with users.
This issue crystallizes tensions between financial innovation and traditional banking system protection.
The banking sector strongly opposes yield-bearing stablecoins. Banks fear erosion of their deposit base, as traditional accounts often offer rates below 1%.
If stablecoins became competitive in this arena, some capital could migrate to these new instruments.
Conversely, some policymakers play down these concerns. Patrick Witt, from the White House’s Council of Advisors for Digital Assets, believes that legalizing these products could attract new capital flows to the American financial system.
Politically, optimism seems to be returning. Senator Cynthia Lummis, a key figure in crypto regulation in Congress, recently stated that the United States is “very close” to a comprehensive regulatory framework.
According to her team, an agreement could emerge in the coming days, even if some points still need to be finalized, particularly regarding the ethical aspects of the text.
If this compromise is confirmed, it could mark a decisive step. The CLARITY Act would finally provide a clear structure to a rapidly expanding market, while redefining the balance between traditional finance and digital innovation.
