A turning point could be near for crypto regulation in the United States. According to several sources, the White House and elected officials in Congress have reached a preliminary agreement on stablecoins, boosting the chances of adoption of the long-awaited CLARITY Act.
A compromise has been reached on one key point: yields At the heart of the discussions are stablecoins generating yields, a particularly sensitive issue for the banking sector.
According to Politico, Senators Thom Tillis (Republican) and Angela Alsobrooks (Democrat) have found common ground. The compromise aims to ban yields on passively held stablecoins while allowing room for innovation.
For Angela Alsobrooks, this balance would both protect innovation and prevent a phenomenon feared by banks: the massive outflow of deposits to more attractive digital alternatives.
The precise details of the agreement remain unclear, and the text will need to be examined by industry stakeholders before final approval.
A law to structure the crypto market The CLARITY Act, officially named the Digital Asset Market Clarity Act of 2025, is considered a central piece of American crypto regulation. After the adoption of the stablecoin framework through the GENIUS Act, its passage seemed certain.
But the project was slowed down in January, especially after industry criticism. Major players like Coinbase raised concerns about the possibility for stablecoin issuers to share yields with users.
This issue crystallizes tensions between financial innovation and protection of the traditional banking system.
Banks vs. crypto: a battle over deposits The banking sector strongly opposes yield-generating stablecoins. Banks fear erosion of their deposit base, as traditional accounts often offer rates below 1%.
If stablecoins became competitive in this area, some capital could migrate to these new instruments.
Conversely, some policymakers downplay these concerns. Patrick Witt, from the White House Council of Advisers on digital assets, believes that legalizing these products could attract new capital flows to the American financial system.
An agreement expected in the coming days Politically, optimism seems to be returning. Senator Cynthia Lummis, a key figure in crypto regulation in Congress, recently stated that the United States is “very close” to a comprehensive regulatory framework.
According to her team, an agreement could emerge in the coming days, even if some points still need to be finalized, particularly on the ethical aspects of the text.
If this compromise is confirmed, it could mark a decisive step. The CLARITY Act would finally provide a clear structure to a rapidly expanding market, while redefining the balance between traditional finance and digital innovation.
