US Senate Announces Tentative Agreement on Crypto Legislation

The US Senate has announced a tentative agreement on the 'yield v rewards' aspect of digital asset market structure legislation, known as the CLARITY Act. The proposed solution aims to satisfy both crypto operators and banks, who have been at odds over the issue. Under the plan, platforms would be allowed to offer rewards based on specific activities, rather than passive stablecoin balances.

However, the scope of these activities has yet to be clarified publicly, and major stakeholders are yet to review and accept the proposed solution. The Senate Banking Committee members and the White House have been negotiating a compromise that addresses both sides' concerns.