Crypto insiders are indicating a deal on the stablecoin yield issue may be near.
Currently, the CLARITY Act, or the crypto market infrastructure legislation, is largely being held up by the potential stablecoin holders earning yield on their funds. Banks do not like it because they fear the competition. A large portion of their business comes from holding people’s money, lending it out, and giving these deposit holders little in return. Stablecoin issuers and crypto firms view it as an innovative feature that will benefit businesses and consumers.
— Senator Cynthia Lummis (@SenLummis) March 20, 2026
Yesterday, it was reported that Republican Senator Thom Tillis said lawmakers are “very close” in resolving the legislative jam.
Today, it was reported that crypto supporter Senator Cynthia Lummis said the yield issue is “99% resolved” following a closed-door Senate Republican meeting. This could lead to markup on the pending legislation in April.
If the above is accurate, an announcement should be coming soon.