Bipartisan CLARITY Act Compromise Sparks Surge in Stablecoin Issuer Circle

The US Senate has made significant progress in shaping the CLARITY Act, with Senators Thom Tillis and Angela Alsobrooks reaching a bipartisan agreement on the language surrounding stablecoin rewards.

The compromise aims to draw a clearer line between cryptocurrency products and regulated banking services. It prohibits offering stablecoin rewards in ways that are economically or functionally equivalent to interest paid on traditional bank deposits.

Regulators will now draft a new disclosure regime for Circle and other stablecoin issuers before a Senate markup in May 2026.