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Home/Markets & Investing/CRYPTO REGULATION BILL · STABLECOIN US LEGISLATION

White House Adviser Signals Compromise on Stablecoin Yields to Clear CLARITY Act Path

TB

Talia Blackwood

crypto regulation bill · Apr 14, 2026

White House Adviser Signals Compromise on Stablecoin Yields to Clear CLARITY Act Path

Source: DojiDoji Data Terminal

Bank deposits could move by the trillions if stablecoins are permitted to offer yield, according to warnings from Morgan Stanley and Standard Chartered. This dispute over interest payments remains the primary sticking point in negotiations for the CLARITY Act, a digital-asset market structure bill that has passed the House and now moves toward a Senate Banking Committee markup in late April 2026.

Related Brief15h ago
digital asset legislation

The May 2026 Senate Deadline for the CLARITY Act Risks a Four-Year Regulatory Void

U.S.-based crypto firms continue relocating to jurisdictions with defined rules, including Singapore and Abu Dhabi, to avoid years of regulatory ambiguity. The CLARITY Act aims to end this migration by assigning jurisdictional boundaries between the SEC and other agencies for digital assets. The bill passed the House in July 2025 but has since remained stalled in the Senate Banking Committee. The holdup centers on whether stablecoin issuers can offer yield to users. While crypto firms argue the feature is essential for competition, traditional banks contend it blurs the line between deposits and securities. The Senate Banking Committee has not yet scheduled a markup hearing. Senator Cynthia Lummis warned that if the bill does not advance by May 2026, the 2026 midterm election cycle will shift congressional focus from policy to campaigning. Legislative momentum for federal crypto regulation may not return until at least 2030.

White House digital assets advisor Patrick Witt said he is "very confident" that negotiators have reached a workable compromise on the issue. Witt, who spoke at the Solana Summit in New York on April 13, noted that while neither side may be satisfied, the result is one they "can live with."

Related Brief1d ago
digital assets

Senate May Deadline Sets Final Window for U.S. Crypto Federalization

Institutional capital will enter the U.S. crypto market and anchor development in the country for the first time in nearly a decade if the CLARITY Act becomes law. This would reduce regulatory risk for firms and investors by ending a patchwork of enforcement actions. Jurisdiction would be split between the SEC and the SEC and the CFTC based on asset type and platform function, with defined registration pathways for intermediaries and trading platforms. Disclosure rules, custody standards, and investor protections would apply across the board. The SEC's Project Crypto, launched in 2025, would execute this transition through updated token taxonomy and application of the Howey test. Treasury Secretary Scott Bessent has warned that delays sacrifice U.S. competitiveness and encourage offshoring. The House has already passed the act, and the Senate Banking Committee is scheduled to hold a markup in the second half of April. The Senate must pass the legislation by May to avoid pushing consideration of the act into the period following the November 2026 midterm elections.

The CLARITY Act would divide oversight duties between the SEC and the CFTC by defining digital commodities and investment contract assets in federal law.

Related BriefJust now
stablecoins

Stablecoin transaction volumes could reach $1.5 quadrillion as regulatory frameworks finalize by 2026

Banks can now use stablecoins for cross-border payments, interbank liquidity, and FX efficiency as global regulations in the US, UK, and EU enable the integration of stablecoins into mainstream financial infrastructure. This shift is driven by the regulatory framework being established this year. The FDIC has approved proposed rulemaking to implement the GENIUS Act for payment stablecoin issuers. Simultaneously, FinCEN and OFAC have jointly proposed new AML and sanctions compliance requirements for stablecoin transactions. These rules require real-time identification of counterparties and the the ability to block prohibited transactions before settlement. Verified counterparty identity and pre-authorization are now prerequisites for funds to reach the blockchain. Adjusted stablecoin transaction volume is projected to reach $719 trillion by 2035 through organic growth alone. This figure is projected to increase as a $100 trillion wealth transfer from Boomers to Millennials and Gen Z between 2028 and 2048 accelerates adoption. Stablecoin transaction volumes could approach $1.5 quadrillion by 2035. Stablecoin payment volumes are on pace to match Visa and Mastercard‱s off-chain transaction volumes between 2031 and 2039.

crypto regulation billstablecoin US legislation

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