Hill says negotiators nearing compromise on stablecoin yield provisions in Clarity Act

Congressman French Hill discussed ongoing negotiations over the Clarity Act and stablecoin regulation, saying senators and industry groups have been working toward compromise language.

"I want to thank Senators Ossoff, Brooks, and Tillis for working mightily with the crypto industry and the banking industry to reach that compromise," Hill said, adding that other senators including Tim Scott and Cynthia Lummis have worked on decentralized finance language important to returning the bill to the House.

When asked whether the new language would bar yields for stablecoins held on platforms, Hill said he had reviewed the language and believed "it was a possible compromise and I hope we can get it done." He did not offer precise text or a timetable for a House markup, but told the host he is watching for Senate action that would produce "white smoke" and allow the House to proceed.

Hill characterized the negotiators' work as ongoing and emphasized cooperation between senators and industry; no draft text or dates for a House markup were provided in the interview.