Senator Angela Alsobrooks, a Democrat from Maryland, on the Senate Banking, Housing, and Urban Affairs Committee, worked with Senator Thom Tillis, a Republican from North Carolina, on bipartisan stablecoin yield compromise text that could move the Clarity Act to a markup this month.© 2026 Bloomberg Finance LPPunchbowl News reported today that Senate negotiators had agreed to new stablecoin yield language in the CLARITY Act, with the text barring rewards that are economically or functionally equivalent to interest on a bank deposit.The compromise, finalized by Sens. Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.), addresses a key gap in the GENIUS Act raised by the banking industry. That legislation, which President Donald Trump signed into law on July 18, 2025, established a federal framework for payment stablecoin issuers, including reserve requirements, redemption obligations and anti-money laundering provisions.The GENIUS Act prohibited interest payments by stablecoin issuers but did not explicitly address certain secondary market practices by exchanges or affiliates.According to the reported text obtained by Punchbowl News, the new language applies to rewards paid by covered parties and prohibits payments that function as deposit interest or yield. It preserves room for rewards tied to bona fide platform activity, provided they do not meet the equivalence standard. The text also directs regulators to develop a framework for disclosures and a catalog of permissible reward activities.CLARITY Act Markup In May Becomes PossibleThe agreement removes a major roadblock that had stalled progress on the broader CLARITY Act, a comprehensive digital asset market structure bill. Other provisions, including those related to tokenization, decentralized finance protections and software-developer safeguards, remain unresolved. Senate Banking Committee Chairman Tim Scott has indicated the bill will require unified Republican support before advancing to a markup, which is now targeted for May.“We commend Senators Tillis and Alsobrooks for their leadership in reaching this agreement. Resolving the stablecoin yield question clears the path to a Senate Banking Committee markup and brings us meaningfully closer to comprehensive market structure legislation becoming law,” said Blockchain Association CEO Summer Mersinger in a statement. “The United States has an opportunity to cement its position as the crypto capital of the world…This agreement is a step in the right direction and we urge the Committee to move forward without delay.”MORE FOR YOUThe compromise reflects months of negotiations involving the White House, Treasury Department, Senate Banking Committee Republicans and the two lead senators. Coinbase Chief Policy Officer Faryar Shirzad described the outcome as preserving the ability for Americans to earn rewards based on real usage of crypto platforms and networks.This article did not independently obtain the draft legislative text. The reporting is based on Punchbowl News’ account of the compromise language and the text shared on X. The CLARITY Act aims to provide regulatory clarity for digital assets following the GENIUS Act’s stablecoin framework, but final passage would still require additional steps in the Senate and reconciliation with House legislation.This development comes amid ongoing industry and banking sector discussions about the role of stablecoins in the broader financial system. Stablecoin issuers have argued that activity-based incentives support innovation and user engagement, while banks have expressed concerns about potential competition with traditional deposit products.