US senators have reached an agreement with the White House to resolve a dispute with banks over yields on crypto stablecoins. Key senators said they had reached a tentative agreement with the White House on language they would like to include in a cryptocurrency bill aimed at resolving conflicts between banks and digital asset companies over stablecoin yields.
Sens. Thom Tillis (R.N.C.) and Angela Alsobrooks (D-Md.) say they have reached an agreement that could bring closer cryptocurrency legislation expected to be signed in the coming weeks. “Senator Tillis and I are in fundamental agreement,” Allbrooks said in an interview Friday. “We’ve come a long way, and I think this gives us an opportunity to not only protect innovation, but also prevent widespread deposit flight.” The bill previously stalled in the Senate Banking Committee.
It is unclear what the agreement will include, and there is no guarantee that it will have support from the banking or crypto industries. Tillis said in an interview that he “feels like we’re in a good place” with the tentative agreement, but added that he would still “review it with the industry.” “I think we have an agreement to work with the White House,” Tillis said. “The industry will now need to be vetted with the industry as they are party to the final agreement.”
The passage of this bill may put an end to the phenomenon of “enforcement regulation” and usher in an era of peaceful and mutual solutions. Benefits outlined in the report include clearer tokenization and institutional adoption. Bulls also intend to prioritize clearer token classification, defined intermediate rules, RWA tokenization, and rules for clarifying taxes on small transactions.
The White House has not commented on the senators’ reports of an agreement. The House of Representatives passed the CLARITY Act in July 2025 and the Genius Stablecoin Act the same year. The U.S. Senate is currently working on a version of the law.