Tillis plans to release a draft this week to break the deadlock on stablecoin earnings in the "Clarity Act."

U.S. Republican Senator Thom Tillis stated that a draft will be publicly released this week, aimed at addressing the long-standing dispute between banks and cryptocurrency companies regarding stablecoin yields in the Clarity Act.

Tillis has collaborated with Democratic Senator Angela Alsobrooks to draft the relevant provisions, and the current draft has been reviewed by both banks and cryptocurrency parties, but the banks still hold an opposing stance. Tillis expressed a willingness to further modify the text. The issue of stablecoin yields is the core point of contention in the Clarity Act—banks are concerned that allowing cryptocurrency companies to pay interest on idle stablecoins will lead to a massive outflow of deposits, while cryptocurrency firms like Coinbase believe that prohibiting this will stifle innovation. Additionally, Tillis proposed to hold a "crypto summit" to invite all parties to negotiate a resolution on Capitol Hill. The Clarity Act has not yet passed the Senate Banking Committee, and there is still a long way to go before final legislation.

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