Overview
- Senator Thom Tillis, who leads negotiations, asked on Monday to move the Senate Banking Committee’s CLARITY Act markup to May so talks over stablecoin rewards can continue.
- At issue is whether stablecoin providers can pay interest‑like returns on idle balances, with a draft compromise barring passive yield but allowing activity‑tied perks similar to credit‑card rewards.
- Bank trade groups warn yield could drain deposits from community lenders, while a White House economic analysis estimates a ban would lift bank lending by only about $2.1 billion and cost consumers roughly $800 million.
- The White House has pressed for a narrow compromise and its crypto adviser Patrick Witt publicly told banks to stop trying to stall the bill, as Coinbase and the Digital Chamber urged senators to schedule a markup.
- The bill still needs a Banking Committee vote, text alignment with other Senate work, floor time, and then the president’s signature, and prediction markets now put 2026 passage near even odds because the Senate calendar is tightening.