Senate negotiations continue over stablecoin yield, DeFi provisions, and bipartisan compromises within the CLARITY Act. Lawmakers and administration officials are addressing concerns around t
U.S. Senators, industry groups, and administration officials are working to resolve remaining CLARITY Act disputes before Congress leaves for the July 4 recess. According to journalist Eleanor Terrett, discussions now center on stablecoin yield provisions, DeFi rules, and bipartisan negotiations on the bill aimed at securing a Senate floor vote when lawmakers return.
While lawmakers continue negotiating broader crypto legislation, stablecoin yield remains under discussion behind the scenes.
According to Terrett, state bankers associations have coordinated outreach efforts with Senate lawmakers on the issue. A banking source familiar with those meetings said stablecoin yield remains "very much in play."
However, attention on Capitol Hill has recently shifted elsewhere. Current discussions focus on securing an ethics agreement, addressing differences between Banking and Agriculture Committee proposals, and refining the bill's treatment of decentralized finance.
Even so, the source noted that senators outside the relevant committees continue learning about the legislation. As a result, stablecoin yield could receive renewed attention when the measure reaches the Senate floor.
As negotiations continue, a bipartisan group of senators from the Banking and Agriculture Committees met Friday to address unresolved matters.
Later that day, Acting Attorney General Todd Blanche met with law enforcement organizations. The discussions focused on the Blockchain Regulatory Certainty Act, a provision that remains one of the most debated parts of the legislation.
The measure would clarify that certain non-custodial software developers are not responsible for third-party use of their code. An exception would apply when developers knowingly intend to facilitate illicit activity.
However, some law enforcement officials have raised concerns. According to Terrett, several Democratic senators want those issues addressed before offering support.
Outside Congress, crypto advocacy groups have increased engagement with lawmakers. On Wednesday, Stand With Crypto organized a Capitol Hill fly-in involving advocates from more than a dozen states.
Participants met with 18 Senate offices and urged lawmakers to advance the Clarity Act. Meanwhile, the Digital Chamber plans a similar lobbying event on Tuesday. CEO Cody Carbone said the effort comes as the legislative calendar shortens.
Rep. Dusty Johnson, chairman of the House Agriculture Committee's Digital Assets Subcommittee, also stressed the timeline. He said lawmakers must finish the process before August, noting that relying on a later session would be difficult.
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