U.S. CLARITY Act Stalls as Banks Reject Stablecoin Reward Compromise, SEC Schedules April 16 Digital Asset Roundtable

Negotiations on the U.S. CLARITY Act have slowed after banks opposed a White House compromise that would have permitted limited stablecoin rewards, according to reports. Crypto firms are seeking 3–4% incentives on stablecoin holdings to attract users and compete in digital payments, while some banks warn such incentives could shift as much as $500 billion from deposits into crypto wallets. The White House plan would have allowed rewards for specific uses like peer-to-peer payments but barred incentives for idle stablecoins, a proposal most crypto companies accepted but banks rejected. The U.S. Securities and Exchange Commission is preparing an April 16 roundtable to review how federal securities laws should apply to digital assets, and some observers now expect the CLARITY Act might not be enacted until 2026.