UPDATE: CLARITY Act clears key hurdle after senators strike deal on stablecoin yield

Senators Thom Tillis and Angela Alsobrooks have reportedly reached an agreement in principle on language governing stablecoin yield, lifting the key sticking point that has kept the CLARITY Act stalled since January. A Senate Banking Committee hearing is expected in late April. Citi, JPMorgan and Grayscale have pointed to the bill's momentum as a potential catalyst for increased institutional demand for Bitcoin. Citi puts its bull-case target at $165,000 per BTC if regulatory clarity takes hold.