U.S. crypto sector awaits CLARITY Act compromise as stablecoin rules advance
Momentum is building in Washington for a new U.S. crypto market structure law that could widen how stablecoins are used by platforms and retail investors. The debate centers on whether third-party services can offer yield on stablecoins, a question that carries implications for adoption, product development and competition with traditional banks.
Highlights
- New bill language allows third-party platforms to offer stablecoin yield only when users participate in lending or staking, reflecting a compromise between crypto firms and banking lobby groups.
- Senate Banking Committee aims to hold a markup and vote on the stablecoin bill this month, with a full Senate vote possible in June or as late as early August.
- Legislation, having cleared the House, could reach the White House for presidential approval by July 4 or nearer to the start of August if the Senate advances it.
Senate path and yield compromise
As reported by Weiss Ratings, speakers at Consensus Miami 2026 say negotiators have reached new bill language that would allow third-party platforms to offer stablecoin yield when users actively participate in activities such as lending or staking.That approach appears to mark a compromise between crypto firms and banking lobby groups, which have argued that allowing platforms to pay yield on idle stablecoin balances could undermine parts of the traditional financial system. Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, says at the conference that both crypto and banking interests are dissatisfied in roughly equal measure, calling that a sign the compromise is balanced.
The measure still faces additional procedural steps before it can become law. The Senate Banking Committee still needs to hold a markup and vote before the bill can move to the full Senate, and Witt says the target is for that to happen this month, with a floor vote possible in June, while Senator Kirsten Gillibrand indicates the timetable could slip closer to early August.
Because the legislation has already passed in the House, Senate approval would send it to the White House. Under the timelines discussed at the event, the bill could reach the president by July 4 or nearer the start of August.
In our earlier report on Senator Elizabeth Warren’s scrutiny of Meta’s stablecoin plans, we explained how the lawmaker pressed the company for details on integrating stablecoin payments across its platforms. The piece highlighted concerns around competition, privacy, consumer protection, and financial stability, while noting the shadow of Meta’s abandoned Libra initiative and the push for clearer rules as Congress debates broader crypto legislation.
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