US unlocks CLARITY Act: Senate reaches key agreement on stablecoin performance

The United States Senate has succeeded in dismantling the main obstacle that had kept the CLARITY Act, the country's comprehensive legislation on digital assets, frozen. 

After months of intense negotiations, the senators Thom Tillis y Angela Alsobrooks They finalized a compromise text that regulates how users can generate returns by holding stablecoins in their wallets. 

This consensus, initially reported by Bloomberg and confirmed through documents obtained by Eleanor Terrett, presenter of Crypto in America, eliminates the technical veto that prevented progress towards a formal vote on the bill this May. 

The resolution removes the last major obstacle for the CLARITY Act to find a clear path toward its final approval. 

With this agreement in place, the crypto industry expects the committee to ratify the draft this month, subsequently sending it to the full House for a final vote. If the process maintains its current pace, the legislation will soon reach the presidential office, where Donald Trump, who has solidified a decidedly pro-crypto stance during his current administration, is expected to sign the document into federal law.

The end of arbitrage between bank deposits and digital protocols

Tensions between banks and the crypto industry peaked at the beginning of the year, driven by fears of a massive deposit run. 

According to Bloomberg reports, and as This media outlet reported this Traditional banks promptly lobbied hard to prohibit native digital asset platforms from offering returns exceeding conventional savings rates. The financial institutions' central argument was that if the average user found higher returns by moving their capital to a stablecoin, the stability of bank deposits would be compromised. Meanwhile, cryptocurrency companies defended the need for establish fair and equitable rules that, in the same way as in traditional banking, would allow for incentivizing user retention through loyalty programs or participation in the network.

The result of this intense debate is the new Tillis-Alsobrooks agreementwhose wording introduces a technical restriction. According to the sourcesThe new legal language prevents stablecoin rewards from being offered in a way that results "economically or functionally equivalent to the payment of interest on a bank deposit". 

This restriction seeks to prevent exchanges from operating as banks without being subject to the same confidentiality and oversight requirements. Instead of offering fixed rates or promoting themselves as savings accounts, platforms will need to restructure their business models toward loyalty programs or participation mechanisms that do not mimic traditional banking operations. 

Although the new agreement introduces significant restrictions, it also hints at a tacit recognition. Stablecoins are now becoming permanent fixtures within the US financial system, integrated into the landscape with their own rules that define their scope and operation.

The CLARITY Act moves toward presidential signature

The resolution of this legislative conflict projects a more certain outlook for the institutional and retail cryptocurrency market. With the path cleared for Senate markup this month, the industry anticipates clear regulations on reserve requirements for stablecoin issuers. 

Furthermore, analysts emphasize that the validation of this agreement by figures from both parties suggests that the US government has finally accepted the continued presence of stablecoins within the national financial system. According to sources cited by Bloomberg, this compromise ensures that banks protect their deposit base while the crypto industry gains the legal certainty necessary to scale its operations within a clear legal framework. 

By clearly defining who can issue these assets and what type of reserves must back them, the risk of systemic collapses or surprise judicial interventions that have so severely impacted the sector in previous years is drastically reduced.

What's next for investors and businesses? Once the Senate approves the bill this month, the regulatory project must be harmonized with the House of Representatives before landing at the White House. 

In the current context, the Trump administration has shown an unprecedented willingness to integrate cryptocurrencies into the US economy, viewing them as a tool for competitiveness against other major powers. For the average user, this means that access to stablecoins will be more secure, even though the direct benefits of holding them may change in name and form. 

Experts point out that this development could be the catalyst the institutional market is waiting for to enter the digital ecosystem in force, knowing that the rules of the game no longer depend on ambiguous interpretations, but on a robust federal law.