The market is stirring again. According to the latest reports, a major US-based cryptocurrency exchange is considering a reversal — they might withdraw their support for the Clarity Act. What’s the culprit? A seemingly insignificant clause: restricting stablecoin issuers from offering reward yields.

It may sound trivial, but for exchanges, it’s like digging into their foundation. Why? Numbers tell the story. Just in Q4 2025, the stablecoin business contributed $247 million in revenue to this leading exchange. That’s no small amount — it means that once rewards are cut, their main source of income from sponsors will shrink.

The banking industry is working behind the scenes. They understand the power of stablecoins: by offering sufficiently attractive yields, they can siphon off trillions of dollars in deposits from the traditional banking system. So, banks are lobbying furiously in Congress to close this loophole. The US Senate Banking Committee has already put this “controversial clause” on the agenda for this Thursday’s markup session.

What’s the timeline? Analysts’ predictions are a bit harsh: the bill may not pass Congress until 2027, and full implementation might not happen until 2029. In other words, the entire market will have to endure another three or four years under regulatory uncertainty. Exchanges, banks, lawmakers — each side is fighting for its own interests, and the cryptocurrency market is being pulled in the middle.