Senate Clarity Act Latest Text Bans Stablecoin Balance Yields, Crypto Industry Sees Restrictions as Too Stringent

SmartContractAuditor · 2026-03-24T00:17:28+00:00

The U.S. Senate's latest revised Digital Asset Market Structure Act, the Clarity Act, has attracted attention from the crypto industry, particularly regarding provisions limiting stablecoin yield. The bill prohibits profiting from holding stablecoins and requires rewards to be based on user activity. The banking industry believes it will impact lending operations, while crypto industry participants have expressed dissatisfaction with the provisions. The bill still needs to pass review by the Senate Banking Committee.

SmartContractAuditor

2026-03-24 00:17:28

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Odaily Planet Daily reports that the latest revised text of the U.S. Senate’s Digital Asset Market Structure Act, Clarity Act, has been publicly disclosed for the first time, with provisions regarding stablecoin yields raising industry concerns. The newest version, sponsored by Senators Angela Alsobrooks and Thom Tillis, will prohibit earning yields solely from holding stablecoins and restrict any schemes similar to bank deposit interest, allowing rewards only based on user activity with stablecoins rather than account balances.

The banking industry previously insisted that stablecoin rewards should not resemble interest-bearing deposits, arguing that such competing products could weaken banks and impact lending activities. Industry insiders believe this clause is too narrow and poorly worded. The bill had previously passed a version in the House of Representatives, and the Senate Agriculture Committee has also approved it for review. It now needs to go through a hearing in the Senate Banking Committee before moving toward a final consolidated version.

Additionally, disagreements remain over provisions related to decentralized finance regulation and prohibiting government officials from profiting from the crypto industry.

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