Overview
- The panel, which meets Thursday at 10:30 a.m. in the Dirksen building, will take up the Clarity Act after months of delay over stablecoin rewards.
- The bill would set a federal rulebook for digital assets by clarifying when tokens are treated as securities or commodities and by defining agency roles.
- A bipartisan deal from Senators Thom Tillis and Angela Alsobrooks would block yield on idle stablecoin reserves but allow rewards tied to active uses such as payments or lending.
- Major banking trade groups filed edits and warned that Section 404 could let issuers pay balance‑ or duration‑based rewards that resemble interest, risking deposit flight from community and consumer banks.
- Coinbase withdrew support in January over yield and DeFi issues but signaled backing for the revised language, while an ethics proposal from Senator Kirsten Gillibrand may wait until later stages as the Senate still must reconcile this text with the Agriculture Committee version before a floor vote.