Breaking: Senators Thom Tillis (R‑N.C.) and Angela Alsobrooks (D‑Md.) say they’ve reached a tentative agreement with the White House to settle a high‑stakes dispute over stablecoin yields that has pitted banks against crypto firms — a move that could unlock stalled cryptocurrency legislation in the Senate.
What happened
- Tillis and Alsobrooks told reporters they have an “agreement in principle” on language to include in a crypto bill intended to resolve the clash over how banks and digital‑asset firms handle yield on stablecoins. Alsobrooks said the deal “will allow us to protect innovation, but also gives us the opportunity to prevent widespread deposit flight.”
- The bill, which had been stalled in the Senate Banking Committee, could now move forward and potentially be signed in the “coming weeks,” according to the senators.
What’s still unknown
- The specific terms of the agreement have not been disclosed, and the White House has not commented publicly.
- Senators emphasize the text must still be vetted with industry participants; Tillis said he still plans “to vet it with industry,” noting banks and crypto firms are “a party to an ultimate deal.”
- Support from both the banking sector and the crypto industry is not guaranteed.
Why it matters
- Supporters say passing the bill could end “regulation by enforcement,” give clearer legal rules for token classification and intermediaries, promote RWA (real‑world asset) tokenization, and provide tax clarity for small transactions — all developments that could accelerate institutional adoption of crypto.
- Opponents or skeptical observers are likely to watch whether the compromise adequately balances consumer and depositor protections with innovation.
Context
- The House passed the CLARITY Act and the Genius Stablecoin Act in July 2025; the Senate has been working on its own version. This tentative White House‑Senate accord could be the key to reconciling those efforts and moving a final bill toward passage.
What’s next
- Senators will continue discussions with industry stakeholders and committee members. Details of the agreement must be finalized and released before votes can proceed.
We’ll update as text is published or the White House and industry groups respond.
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