The Clarity Act markup in the US Senate is nearing completion after months of negotiations between the crypto industry and banks. Despite a central dispute over stablecoin yields remaining unresolved, a deal could be reached within one week according to Digital Chamber CEO Cody Carbone.
The Digital Asset Market Clarity Act passed the House with a 294-134 vote in July 2025 but has stalled in the Senate Banking Committee since January due to disagreements on yield-bearing stablecoins. Banks argue that these stablecoins could trigger deposit flight, while crypto firms counter that stripping rewards would push issuers to offshore jurisdictions.
A compromise language being worked on by Senators Thom Tillis and Angela Alsobrooks would ban passive yields while preserving transaction-based rewards. However, if the bill fails to clear the committee by late April, analysts warn that passage odds drop to near zero for this congressional session.