Senate unveils CLARITY Act compromise as Banking Committee clears markup

The U.S. Senate on Friday released a long-negotiated compromise draft for the CLARITY Act, crafted by Senators @SenThomTillis and @Sen_Alsobrooks, breaking a months-long impasse over stablecoin yield programs. Under the deal, the bill would prohibit pure reserve-yield products that resemble bank deposits, while allowing "activity-based" rewards programs offered by firms such as @coinbase. The shift is expected to push crypto companies to reorient from a "buy and hold" model toward "buy and use." The Banking Committee markup has now been cleared. A full Senate vote could come in May or June, with the August recess viewed as the practical deadline before momentum fades and the bill risks slipping into 2030.