ICYMI: U.S. Senate unveils CLARITY Act compromise, bars reserve-based stablecoin yield while allowing activity-based rewards

ICYMI: The U.S. Senate has released compromise text for the CLARITY Act that would prohibit stablecoin issuers from paying yield derived from reserves, while keeping activity-based rewards intact. The draft removes a key obstacle to a Banking Committee markup, following months of negotiations involving crypto companies and banking lobbyists.