This move could end the legislative impasse between digital asset companies and traditional banks.

The Senate Banking Committee is scheduled to hold a working session on the "Clarity Act" on May 14 at 5:30 PM Moscow time.

If signed into law, the bill will clarify the jurisdiction of financial regulators over the rapidly developing sector and determine whether specific tokens are classified as securities or commodities. Industry participants believe this legal certainty is "existential" for the future of the crypto industry in the US.

A key element of the bill is a compromise regarding dollar-pegged stablecoins. As part of the agreement reached by Senators Thom Tillis and Angela Alsobrooks, crypto companies will be prohibited from rewarding customers on idle stablecoin balances due to their similarity to traditional bank deposits.

However, rewards for active use—for example, for making payments—will still be allowed.

This provision has sparked "desperate attempts" by banking lobbyists to lure away Republican supporters of the bill. Industry associations warn that the loophole allowing interest on stablecoins could trigger a drain on deposits from the insured banking system and threaten overall financial stability.

The crypto industry is pushing for the bill to be passed in the coming months, before the November midterm elections. Although the House of Representatives passed its version of the "Clarity Act" last July, the Senate must approve the legislation by the end of 2026 to send it to President Donald Trump for his signature. The bill is currently facing resistance from a number of Democrats, who consider the anti-money laundering provisions insufficiently robust and insist on stricter restrictions on political officials profiting from cryptocurrency projects.

To receive final approval from President Trump, who has vowed to become a "crypto president," the legislation will require the support of at least seven Democrats in the full Senate.