US senators reach compromise on stablecoin yield terms, potentially removing obstacles to the Clarity Act's progress.

US lawmakers have reached an agreement on stablecoin yield terms, a point of contention that had stalled the Clarity Act in the Senate for months. Senators Tom Tillis and Angela Alsobrooks have finalized the text of a compromise, which includes Section 404 prohibiting crypto companies from offering interest or yields economically or functionally equivalent to bank deposits, but allowing incentives related to use on legitimate platforms. Coinbase CEO Brian Armstrong stated that the Senate Banking Committee should be urged to expedite the bill's review. This progress could pave the way for a previously stalled review process. (The Block)