As Punchbowl News reported Friday (May 1), Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have reached a compromise to restrict stablecoin yield and rewards, a key development as the Senate plans a crypto markup later this month.

A copy of the agreement obtained by the news outlet includes new language for the so-called CLARITY Act establishing requirements for crypto companies to offer stablecoin rewards. 

Among the requirements is a ban on rewards offered “in a manner that is economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit,” the report…