Odaily Planet Daily reports: Key negotiators in the U.S. have reached a "principled agreement" on how to handle stablecoin yields, a central point of contention in advancing the Crypto Market Structure Act. Senators Angela Alsobrooks and Thom Tillis, along with the White House, have reached this principled agreement. Connor Lounsbury, spokesperson for Alsobrooks, stated that the agreement aims to protect stablecoin innovation and prevent deposit outflows; however, broader ethical and illicit finance issues within the wider legislation still need resolution to secure broad bipartisan support from the Senate Banking Committee. White House official Patrick Witt posted on X that this principled agreement represents a "major milestone" in advancing the CLARITY Act, noting that finalizing other outstanding issues remains necessary. Previously, the GENIUS Stablecoin Act, passed in July, prohibits stablecoin issuers from directly paying interest to holders, but does not prevent third-party platforms like Coinbase from offering rewards. The Senate Banking Committee plans to hold hearings next month after the Easter recess to revise and vote on the bill. (The Block)
U.S. Senators and White House Reach Framework Agreement on Stablecoin Earnings
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Summary
U.S. Senators Angela Alsobrooks and Thom Tillis have secured a framework agreement with the White House on stablecoin regulation. The agreement emphasizes balancing innovation with stablecoin oversight, particularly to prevent capital outflows and address CFT (Countering the Financing of Terrorism) concerns. The White House described the progress as a major step forward for the CLARITY Act. The July 2025 GENIUS bill previously prohibited stablecoin issuers from paying direct interest but allowed third-party platforms to offer rewards. The Senate Banking Committee will hold hearings in April to revise the bill and seek broader support.
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