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Senators try to unlock stalled crypto Clarity Act with compromise on stablecoin yield

Senators try to unlock stalled crypto Clarity Act with compromise on stablecoin yield

The U.S. banking industry had effectively lobbied to halt the crypto industry’s market structure bill, the Digital Asset Market Clarity Act, over a dispute about the proper role for stablecoin rewards. But lawmakers continue to negotiate a compromise to move that legislation forward.

One of the lawmakers at the center of those talks, Senator Angela Alsobrooks, told an audience at an American Bankers Association summit in Washington on Tuesday, that both sides of the negotiation — bankers trying to limit most stablecoin rewards as a threat to traditional deposits and the crypto industry that argues they’re an important consumer incentive — are going to be “just a little bit unhappy.” The Maryland Democrat has been working with Senator…

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