Eleanor Terrett: Two U.S. Senators issue a joint statement on a compromise plan for stablecoin yields, stating they will push for the passage of the CLARITY Act

Fox Business reporter Eleanor Terrett posted on the X platform that U.S. Senators Thom Tillis and Angela Alsobrooks issued a joint statement regarding the compromise proposal on stablecoin earnings in Section 404 of the CLARITY Act. The statement may indicate that the relevant agreement is close to being finalized.

The statement said that the two have discussed concerns from various stakeholders about the banking industry's worries regarding deposit outflows, and the related compromise proposal will prohibit stablecoin rewards similar to bank deposit interest while allowing crypto companies to offer other forms of customer rewards.