US Senate Advances CLARITY Act Deliberations: Stablecoins Shift from Yield Products to Payment Infrastructure

As of May 2026, deliberations in the U.S. Congress regarding the "Digital Asset Market Clarity Act" (hereinafter referred to as the CLARITY Act) have entered a new phase. Since passing the House of Representatives with bipartisan support (294 in favor, 134 against) in July 2025, deliberations in the Senate had long been stalled. However, a practical compromise is beginning to take shape regarding the "stablecoin yield and reward provisions," which were one of the biggest points of contention for the bill's passage. The revised text of Section 404 of the bill, led by Senator Thom Tillis (R-NC) and Senator Angela Alsobrooks (D-MD), contains content that shows a certain level of consideration for both the banking industry and the crypto asset industry.