U.S. senators have released a new proposal on stablecoin yields in the Clarity Act.

Senators Tom Tillis and Angela Olsbrooks have released a consensus text on the key contentious issue of the CLARITY Act—stablecoin yields.

The essence of the compromise: stablecoin issuers are prohibited from paying yields solely for holding tokens or in a form economically equivalent to bank deposits. At the same time, rewards tied to actual platform usage and transactions are permitted.

Coinbase CEO Brian Armstrong responded briefly: “Put it to a vote.” Coinbase’s Chief Legal Officer Paul Grewal added that the text “retains activity-based rewards” and should not serve as grounds for objections.

Brian Armstrong: "Put it to a vote"