TL;DR:
- Stablecoin yield negotiations advance: The White House shared legislative text with the office of Senator Thom Tillis.
- Coinbase withdrew its support for the bill after Tillis and Alsobrooks amendments restricted the scope of rewards issued by crypto companies.
- Anthony Scaramucci warned that the politicization of the sector is stalling the Clarity Act, though he predicted Bitcoin could reach $100,000 in 2026.
Conversations around the provisions on stablecoin yields within the Clarity Act bill have recorded progress in recent weeks. The United States Senate is preparing for a possible review process in the Banking Committee.
The White House shared updated legislative text with the office of Republican Senator Thom Tillis, who had been identified as a potential no vote during earlier preparations. Sources familiar with the discussions described the conversations to journalist Eleanor Terrett as productive, moving “in the right direction”.
Tillis, together with Senator Angela Alsobrooks, had co-sponsored amendments seeking to restrict the scope of stablecoin rewards issued by companies in the sector. Coinbase cited those amendments as one of the reasons it withdrew its support for the bill. Industry groups currently indicate that a new text is being drafted aimed at reaching a compromise acceptable to both banks and crypto companies. Digital Chamber CEO Cody Carbone stated that Tillis has been “very receptive” to conversations about yields and expressed optimism about securing an affirmative vote.
The Debate Dividing the Future of Stablecoins
The debate over yields should be understood as a dispute over control of the digital dollar. A widely shared post argued that stablecoin yields determine who captures the value of digital dollars. Banks are targeting traditional deposits while the crypto sector is betting on programmable money. Industry sources noted that stablecoins have absorbed much of the attention across the bill’s sections, leaving little room for others, particularly those related to the DeFi ecosystem.
Political Pressure on the Clarity Act
Former White House Communications Director Anthony Scaramucci warned in a webinar that political divisions are slowing the bill’s progress. According to Scaramucci, crypto initiatives have become “too politicized” and President Donald Trump’s public actions would have stalled both the legislative and regulatory process. He also suggested that partisan tensions could lead some lawmakers to resist handing the administration a victory. Even so, he predicted that Bitcoin could reach $100,000 by late 2026 if the Clarity Act secures approval, urging investors to treat digital assets as long-term positions.
For his part, Ripple CEO Brad Garlinghouse described President Trump’s call to lawmakers as a message directed at those who are delaying the bill, and emphasized that the measure responds to the interest of the American people.
Industry representatives estimate that the next three weeks will be decisive for resolving the conflict over stablecoin rewards and that, if the current pace is maintained, the Senate Banking Committee could reschedule a formal review for late March.
