Stablecoin Yield Rules Near Resolution in Crypto Bill as U.S. Crypto Legislation Approaches Final Stage

The U.S. crypto legislative process is nearing a resolution on stablecoin yield rules, a key provision in the Digital Asset Market Clarity Act. Negotiations have narrowed to just two or three unresolved issues, with the bill expected to clarify how federal regulators will divide oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. A central point of contention has been whether stablecoin issuers can offer yield or yield-like rewards to users. The emerging compromise would prohibit passive yield but allow activity-based rewards tied to payments and platform usage. This framework aims to balance concerns from traditional banks, which argue that yield-bearing stablecoins could draw deposits away from community banks, with demands from the crypto sector for product flexibility. The final text of the bill has not been released, and no vote has been scheduled, with timing becoming increasingly critical as the 2026 midterm elections approach.