Stablecoin Deal May Push Crypto Bill Forward

Senators Tillis and Alsobrooks have reached a key agreement on how stablecoins can earn rewards. The deal could clear a major hurdle in the Digital Asset Market Clarity Act. Banks worry that rewards on stablecoins resemble interest on deposits. If the bill blocks these rewards, it might hurt U. S. lending. Both senators said they will find a way that protects banks and keeps innovation alive. The White House is reviewing the updated text, but no public version has been released yet.Industry experts know a compromise exists, though they have not seen the exact language. Other issues remain. The bill also tackles decentralized finance, which some lawmakers fear could be used for illicit activity. A Senate Banking Committee hearing is expected soon. If approved, the bill would move to the full Senate floor. It must also merge with a similar version from the Agriculture Committee. Lawmakers hope to finish the bill in May, but Senate time is limited. Other priorities, such as voter‑ID rules and foreign policy matters, could delay it.