Senator Thom Tillis plans to release a draft this week to resolve the stablecoin yield controversy in the Clarity Act.

ME News Report, April 14 (UTC+8), U.S. Senator Thom Tillis expressed hope to release a draft agreement this week to resolve the long-standing dispute between banks and crypto companies regarding stablecoin yields. Tillis, in collaboration with Senator Angela Alsobrooks, drafted relevant provisions in the Clarity Act to clarify whether crypto companies are allowed to pay yields on idle stablecoin balances. The draft has been submitted for review by representatives from the banking and crypto industries and has faced opposition from the banking side. Tillis stated he is willing to make further modifications, and if discussions go smoothly, the draft text may be made public later this week. Previously passed, the GENIUS Act prohibits stablecoin issuers from paying interest to holders but does not explicitly ban third-party platforms like exchanges from offering yields. Banks believe allowing such yields could lead to significant deposit outflows, while crypto companies argue that the ban would stifle innovation. (Source: PANews)