Bipartisan Senate leans toward adjusting GENIUS stablecoin yield rules as CLARITY Act advances

According to Odaily, sources revealed that bipartisan senators are gradually accepting the demands of banking industry lobbying groups to adjust the stablecoin yield rules in the GENIUS Act. The adjustment paths include: adopting the proposal put forward by Senator Alsobrooks, which limits yields to the transaction stage (more favored by Democrats); or requiring that only institutions holding a U.S. Office of the Comptroller of the Currency (OCC) banking license can offer stablecoin yields. The latter is considered more crypto industry-friendly but is highly controversial in the DeFi sector.

In addition, sources said that Scott is expected to submit the House version of the CLARITY Act as placeholder text tonight to initiate the review process next week, with the final text required to be submitted by midnight on Monday at the latest.

Another industry insider involved in communications with Senate staff stated that the previous claim that "prayers are needed to pass the bill" was more of a lighthearted joke rather than a pessimistic judgment about the legislative outlook. The final direction may become clearer in the coming days.