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《CLARITY Act》 Latest Draft: Prohibition on Earning Yield Solely by Holding a Stablecoin

《CLARITY Act》 Latest Draft: Prohibition on Earning Yield Solely by Holding a Stablecoin

BlockBeatsBlockBeats2026/03/23 23:51

BlockBeats News, March 24th, according to CoinDesk's report, cryptocurrency industry participants on Monday at a closed-door hearing on Capitol Hill in Washington, D.C., got their first look at the latest provisions regarding stablecoin yields in the Senate's revised "Digital Asset Market Structure Clarity Act." The initial impression was that the language was too narrow and not clear enough. The new provisions were unveiled last Friday by Senators Angela Alsobrooks and Thom Tillis. According to a source familiar with the current draft, the new provisions will prohibit earning rewards solely for holding stablecoins, while also restricting any practices that would equate the program to a bank deposit, and setting further limitations on other potential activities that may be allowed, with the specific mechanism for determining stablecoin rewards based on activities still unclear.


This compromise solution stems from lobbying between the crypto industry and the banking industry: the banking industry insists that stablecoin rewards should not resemble interest-bearing bank deposits, arguing that such competitive products could harm the banking industry and stifle lending. The ultimate compromise allows for reward programs based on user stablecoin activity but not based on balances.


This closed-door hearing was aimed at moving the Senate Banking Committee to schedule a hearing, which is a crucial step for the bill to advance to a full Senate vote. A similar version of the "Clarity Act" passed the House last year, and another version also passed through the Senate Agriculture Committee's markup process. The bill's progress still faces other obstacles: stakeholders still need to reach a consensus on a DeFi regulatory framework, while Democrats insist on including a provision prohibiting senior government officials from seeking personal benefits from the cryptocurrency industry, a provision clearly aimed at former President Trump.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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