Crypto industry calls for lawmakers to act on legislation after breakthrough agreement

Sen. Thom Tillis, R-N.C., speaks to a reporter as he arrives for the Senate Republicans' lunch meeting in the U.S. Capitol on Wednesday, March 11, 2026. Bill Clark | Cq-roll Call, Inc. | Crypto companies such as Coinbase are calling for Congress to advance a major market structure bill known as the CLARITY Act as soon as next week after senators released compromise language meant to end a battle between banks and crypto over when rewards can be offered on stablecoins. The proposal — from Sens. Thom Tillis , R-N.C, and Angela Alsobooks , D-Md. — would ban crypto companies from giving yield-like rewards for holding stablecoins, which banks warn would lead to fewer deposits and less capital for them to loan. However, it would allow rewards if users spend or use stablecoins. The rules-of-the-road crypto bill is the top priority for the crypto industry , and the Trump White House is actively pushing for it. The fierce debate over stablecoins was seen as the main hurdle to get the bill through the Senate Banking Committee, although other disagreements remain. The crypto industry embraced the text, with Coinbase CEO Brian Armstrong posting on X that the committee should "mark it up," which means take a vote in the Senate Banking Committee. …