Key U.S. Senators Reach White House Agreement on Stablecoin Yield

Lawmakers moved closer to advancing the CLARITY Act after Senators Thom Tillis and Angela Alsobrooks reached an agreement in principle with White House officials on language addressing stablecoin yield, according to Politico. Alsobrooks said the compromise is intended to protect innovation while preventing widespread deposit flight from banks, while Tillis said the pact is not yet final and that he still wants to review the details with industry stakeholders. Separately, market commentator MartyParty said on X that Senator Cynthia Lummis indicated the Senate Banking Committee plans to hold a CLARITY Act markup in the second half of April, likely in the weeks beginning April 13 or April 20 after the Easter recess. The markup would be a key procedural step toward Senate floor consideration, though the bill could still face revisions and unresolved issues remain.