Revision History

The Digital Asset Market Clarity Act, which passed the House in July 2025 with bipartisan support, has stalled in the Senate over a bitter dispute between banks and the crypto industry about whether stablecoin platforms can offer yield-like rewards to users. With the midterm election clock ticking, a bipartisan pair of senators is racing to broker a compromise that would allow activity-based rewards while banning passive yield — but banks, led by JPMorgan's Jamie Dimon, have so far refused to deal.