Trending Now - Crypto Sector Remains Resilient Amid CLARITY Act Uncertainty

WHO:

Cointelegraph - Chris Perkins, a crypto executive, stated that the crypto industry will be "just fine" without the CLARITY Act.

CoinDesk - Senators Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.) released a compromise text on stablecoin yield.

CoinDesk - Summer Mersinger, CEO of Blockchain Association, commented on the agreement.

CoinDesk - Ji Hun Kim, CEO of the Crypto Council for Innovation, expressed concerns about the new language in the bill.

CoinDesk - Dante Disparte, Chief Strategy Officer of Circle, endorsed the deal.

CoinDesk - Brian Armstrong, CEO of Coinbase, and Paul Grewal, Chief Legal Officer of Coinbase, were involved in the negotiations.

WHAT:

CoinDesk - Crypto trade groups called for a markup of the Digital Asset Market Clarity Act after the release of a compromise text.

CoinDesk - The compromise text bars crypto firms from paying interest or yield on stablecoin balances in a manner equivalent to a bank deposit.

CoinDesk - The text allows rewards programs tied to "bona fide activities or bona fide transactions."

CoinDesk - The Treasury and the CFTC are directed to write rules within a year of enactment.

CoinDesk - The yield language was identified as the greatest obstacle in the negotiations.

WHERE:

CoinDesk - The negotiations and discussions are taking place within the U.S. Senate Banking Committee.

WHEN:

CoinDesk - The Senate Banking Committee postponed an earlier CLARITY Act markup in January.

CoinDesk - The Treasury and the CFTC are required to write rules within one year of the bill's enactment.

WHY:

CoinDesk - Summer Mersinger stated that every day without a clear legal framework invites top-tier talent, capital, and innovative companies to locate elsewhere.

CoinDesk - Ji Hun Kim urged the committee to advance the bill to ensure that the U.S. can lead in crypto.

HOW:

CoinDesk - Firms will need to restructure rewards programs from a "buy and hold" model to a "buy and use" model to comply with the transaction caveats.

(UPDATED May 3, 2026 09:19 UTC)

In a significant development for the crypto industry, Chris Perkins, a crypto executive, assured that the sector will remain resilient without the CLARITY Act, while Senators Thom Tillis and Angela Alsobrooks unveiled a compromise text addressing stablecoin yield. This new text prohibits crypto firms from offering interest or yield on stablecoin balances like traditional bank deposits, although it does allow for rewards tied to genuine activities or transactions. As discussions continue in the U.S. Senate Banking Committee, industry leaders like Summer Mersinger and Ji Hun Kim are urging swift action to ensure the U.S. maintains its leadership in the crypto space.