Digital Asset Market Clarity Act Stablecoin Yield Compromise Reaches Industry Review

The Digital Asset Market Clarity Act has reached a compromise on stablecoin yield, which is now under review by industry stakeholders. The agreement, reached by Senators Thom Tillis and Angela Alsobrooks, bans passive yield on stablecoins but permits activity-based rewards tied to payments or platform use.

The compromise language was circulated among crypto and banking industry stakeholders in closed-door Capitol Hill sessions, with a Senate Banking Committee markup now targeted for the second half of April. The bill is set to be marked up by the Senate Banking Committee in April, after which it will enter the full Senate floor for further debate.

The compromise has been met with mixed reactions from industry stakeholders, with some expressing support and others objecting to certain provisions. Coinbase and Stripe have both privately objected to the deal, citing concerns over the impact on their business models.