# "CLARITY Act" Stablecoin Yield Provisions Exposed: Activity Rewards Permitted, Balance Yields Prohibited

Recently, the cryptocurrency industry received its first legislative language on stablecoin yields in the revised version of the "Digital Asset Market CLARITY Act," though the provisions appear narrowly scoped and lack sufficient clarity in expression.

According to informed sources, new provisions announced Friday by Senators Angela Alsobrooks and Thom Tillis will prohibit yield payments based solely on holding stablecoins, restrict practices equivalent to bank deposit interest, and impose further restrictions on other potential activities.

Specifically, the banking industry has firmly advocated that stablecoin yields must never be structured like bank deposit interest, as this competitive product could undermine banking operations and suppress lending.

As a compromise, the new legislation permits reward programs based on user stablecoin activity (rather than balances). This adjustment aims to break the legislative deadlock and enable the bill to receive a hearing in the Senate Banking Committee.

The CLARITY Act has made significant progress to date. Last year, a similar version passed the House, while another version also passed through a markup hearing in the Senate Agriculture Committee.

The upcoming Banking Committee review is critical; once passed, lawmakers can prepare the final merged version for a full Senate vote.

Despite reaching preliminary compromise on stablecoin yield issues, lawmakers must still address controversial provisions including DeFi regulatory approaches and prohibitions on senior government officials profiting from the cryptocurrency industry—these issues will continue to influence the bill's final passage and implementation.

Although last year's "Guidance and Establishment of American Stablecoin National Innovation Act" became the first major U.S. law regulating the cryptocurrency industry and was viewed as a significant victory, it represents only the first step of a "two-step" policy framework, ultimately concluding with the CLARITY Act.

In summary, if cryptocurrency can fully enter the American financial system, it will eliminate regulatory uncertainty for investors hesitant about participating in the industry and will clear the final obstacles for institutional investors and technology developers.

#CLARITY法案 # Stablecoin Yield