The US CLARITY Act moved a step closer to becoming law after lawmakers released final rules on stablecoin rewards, a key issue that had delayed the bill.
Coinbase chief legal officer Faryar Shirzad said the updated text clears the way for progress, calling it “time to get CLARITY done” after Senators finalized provisions aimed at resolving a long-running dispute between banks and the crypto industry.
The new rules, outlined in a section on stablecoins, ban crypto firms from offering interest or yield simply for holding stablecoins — similar to bank deposits. However, companies can still provide rewards tied to real activity on their platforms, such as transactions or network use.
Shirzad said the compromise gives banks stricter limits on yield products while preserving users’ ability to earn rewards through legitimate crypto use cases.
Banks expected to push back
The update is seen as a breakthrough for the bill, as disagreements over stablecoin yields had been one of the biggest obstacles to its passage.
Still, resistance may continue. Galaxy Digital research head Alex Thorn warned that banks are likely to step up opposition following the release of the final provisions.
Momentum builds in Congress
The development has raised expectations that lawmakers could soon advance the bill. Industry leaders, including Coinbase CEO Brian Armstrong, have called for the legislation to move forward quickly.
Lawmakers are now expected to begin formal review, or “markup,” potentially within weeks. Some policymakers have suggested the bill could pass as early as May if momentum continues.
Meanwhile, traders on Polymarket are increasingly betting the bill will become law in 2026, reflecting growing confidence that US crypto regulation is nearing a turning point.
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