# Latest "CLARITY Act" Draft: Prohibits Earning Yields Solely from Holding Stablecoins#加密行情震荡

On March 24, according to CoinDesk, cryptocurrency industry participants saw for the first time on Monday the latest provisions regarding stablecoin yields in a revised version of the Senate "Digital Asset Market Clarity Act" during a closed-door review meeting on Capitol Hill in Washington. Initial impressions were that the relevant language is too narrow and lacks sufficient clarity. The new provisions were disclosed last Friday by Senators Angela Alsobrooks and Thom Tillis. According to a person familiar with the current draft, the new provisions will prohibit earning yields solely from holding stablecoins, while restricting any practices that would equate the program with bank deposits, and imposing further limitations on other potentially permitted activities. However, the specific identification mechanism for activity-based stablecoin rewards remains unclear.

This compromise solution stems from lobbying efforts between the cryptocurrency industry and the banking sector: the banking industry insists that stablecoin rewards must not resemble interest-bearing bank deposits, arguing that such competing products could damage the banking industry and suppress lending. The final compromise result is: activity-based reward programs for users' stablecoin usage are permitted, but balance-based rewards are not allowed.

This closed-door review aims to facilitate the Senate Banking Committee's scheduling of hearings, an important step toward a full Senate vote on the bill. A similar version of the "Clarity Act" passed the House last year, while another version also passed the Senate Agriculture Committee's markup process. The bill's advancement still faces other obstacles: parties need to reach consensus on a DeFi regulatory framework, and Democrats simultaneously insist on including provisions prohibiting senior government officials from reaping personal benefits from the cryptocurrency industry—provisions that are clearly aimed at President Trump.