A breakthrough in stablecoin yields emerges: Senate advances the CLARITY Act, and the White House may be forced to make concessions.

Gate News reports that on March 20, the U.S. Senate made a breakthrough in the legislative deadlock over stablecoin yields, although the newly reached consensus may differ from the White House’s existing stance. Senator Cynthia Lummis stated after a closed-door meeting that all parties “gained key insights,” opening an unexpected pathway forward for the Digital Asset Market Transparency Act (CLARITY Act).

Since its review was postponed to January 2026, the bill has been stalled by disputes over stablecoin yield models. Banking representatives argue that stablecoin rewards are similar to deposit interest, which could weaken traditional banks’ ability to attract deposits and lend; meanwhile, the crypto industry emphasizes that the GENIUS Act only restricts issuers from paying yields and does not ban platforms from offering incentives.

Signals from the meeting indicate that the negotiation direction is shifting. Lummis noted that the focus is no longer solely on the bill’s details but on identifying new stakeholders and building a feasible compromise framework. At the same time, White House crypto affairs chief Patrick Witt was cautious after the meeting, declining to comment publicly, suggesting the plan may not fully align with administrative expectations.

It is reported that the latest compromise includes restricting platforms from using traditional financial terms like “interest” and “deposit yields,” while avoiding directly linking rewards to user holdings to reduce similarities with banking products. This design aims to ease regulatory pressure while preserving growth potential within the stablecoin ecosystem.

Industry signals also indicate cooperation. Brian Armstrong has previously expressed willingness to adjust yield descriptions and product structures to advance legislation. Stablecoin-related business has become a significant part of platform revenue, and policy directions will directly impact their business models.

The timeline is tightening. With midterm elections approaching and geopolitical conflicts diverting legislative resources, the Senate’s progress on the bill is compressed. Market forecasts suggest a roughly 61% chance of passing the bill by 2026.

The specific bill text has not yet been released, but policy negotiations have entered a critical stage. If this “unexpected pathway” is ultimately implemented, it could lead to a substantial shift in the U.S. stablecoin regulatory framework and potentially reshape the competitive landscape between the crypto industry and traditional finance.