As reported by CoinDesk, several US senators are working on an initiative that could unlock the stalled negotiations around the Clarity Act. Democratic Senator Angela Alsobrooks stated at the American Bankers Association summit that a compromise between the crypto industry and the banking sector is currently under discussion.
According to her, the joint proposal with Senator Thom Tillis is aimed at creating mechanisms to protect the banking system:
“The compromise that Senator Tillis and I are working on is intended to create safeguards that prevent deposits from leaving the banking system while still allowing innovation to continue.”
The proposed model suggests that stablecoin issuers would still be prohibited from paying interest on held balances. However, rewards could be allowed if they are linked to platform activity — for example, transactions or user engagement — rather than simply holding funds.
The question of stablecoin yields has remained one of the main points of conflict between banks and crypto companies for several months. Banking institutions have repeatedly expressed concerns that interest payments on stablecoins could become a direct competitor to traditional bank deposits.
Donald Trump shifts political priorities
Earlier, US President Donald Trump also intervened in the debate, criticizing Wall Street and urging lawmakers to accelerate the adoption of the Clarity Act. However, ahead of the upcoming midterm elections, the president appears to have shifted his political priorities.
Trump recently stated that he would not sign any new legislation until the so-called Save America Act is passed. This bill, proposed by Republicans, aims to tighten US election laws. In particular, citizens would be required to prove their citizenship in order to vote, and mail-in voting would be significantly restricted.
Supporters of the initiative argue that it would help prevent potential election fraud. Critics, however, say the new rules could make voting more difficult for a significant portion of the population.
Overall, the Clarity Act is intended to establish unified regulatory rules for the cryptocurrency industry in the United States. The bill is also expected to clarify which federal agency will be responsible for overseeing the crypto market. According to many analysts, the adoption of the law could become a positive catalyst for the crypto sector and support the price of Bitcoin and other digital assets.
Conclusion
The progress of the Clarity Act remains slow, but the new compromise proposal could help restart the legislative process. If lawmakers manage to balance the interests of banks and crypto companies, the bill may finally move forward. Its adoption could provide clearer regulatory rules for the US crypto market and potentially strengthen investor confidence in digital assets.
