Six banking trade groups warn Clarity Act language allows stablecoin yield evasion
Updated
Updated · Decrypt · May 8
Six banking trade groups warn Clarity Act language allows stablecoin yield evasion
10 articles · Updated · Decrypt · May 8
In a letter to the Senate Banking Committee, the groups said a Tillis-Alsobrooks compromise still permits rewards tied to governance, staking, validation and account balances.
They want exceptions narrowed, balance-linked rewards removed and the ban tightened from payments “economically or functionally equivalent” to yield to those “substantially similar” to yield.
The dispute has delayed the crypto bill for months, but senators still aim for a committee vote within two weeks as the Senate's limited pre-midterm calendar raises pressure.
Why does the Clarity Act debate stablecoin interest if the 2025 GENIUS Act already banned it?
Could banning stablecoin yield in the U.S. simply push trillions in crypto capital to overseas markets?
2026 CLARITY Act: Senate Faces High-Stakes Vote on Stablecoin Yield, Banking Fears, and Crypto’s Future
Overview
The Digital Asset Market CLARITY Act, after passing the U.S. House with strong bipartisan support, is now at a pivotal stage in the Senate. As of May 9, 2026, Senate committees are reviewing and working to reconcile competing proposals with the House version. The Senate Banking Committee has released a revised draft, but it has not yet been voted on by either chamber. The goal is to finalize a bill that can move to a full Senate vote and then to the President’s desk, with the White House aiming for a signing in spring 2026. This process is driven by urgent calls for regulatory clarity in digital asset markets.