Rumors emerge of a CLARITY Act deal between White House and lawmakers

The deal reportedly focuses on stablecoin yield and interest-bearing stable tokens, a major pain point for the banking industry.

Rumors are circulating that a tentative deal has been struck between the White House and US lawmakers on stablecoin yield, potentially moving the CLARITY crypto market structure bill forward.

Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks, both members of the Senate Committee on Banking, Housing, and Urban Affairs, have reached an “agreement in principle,” according to a Friday Politico report.

“I think what it will do is to allow us to protect innovation, but also gives us the opportunity to prevent widespread deposit flight,” Alsobrooks said, adding that the deal prohibits stablecoin yield on “passive balances.”

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