Crypto Journalist Eleanor Terrett: Clarity Bill Proposes to Prohibit Platforms from Offering Staking Yields

SmartContractAuditor · 2026-03-24T06:21:23+00:00

Odaily reports that Eleanor Terrett's Clarity Bill prohibits digital asset platforms from providing yields to stablecoin holders, aiming to avoid interest-like activities. Meanwhile, the proposal allows rewards related to user activity, but they must avoid being perceived as interest. Industry reactions are mixed, with some believing the standards are vague and overly restrictive.

SmartContractAuditor

2026-03-24 06:21:23

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Odaily Planet Daily reports that crypto journalist Eleanor Terrett posted on X that details of the Clarity bill regarding stablecoin yields and rewards have been disclosed. The proposal aims to prohibit platforms from directly or indirectly providing yields for holding stablecoins or offering yields similar to bank deposits. This restriction will broadly apply to exchanges, brokers, and other digital asset service providers and their affiliates, intending to ban any activities that are economically or functionally equivalent to interest.

Additionally, the proposal allows rewards linked to user activities, including loyalty, promotional, or subscription programs, provided they are not considered economically or functionally equivalent to interest. The proposal requires the SEC, CFTC, and USTreasury to jointly define permissible rewards and establish anti-avoidance rules within a year. Industry insiders have mixed reactions; some believe the draft is vague and overly restrictive, while others see it as expected, maintaining trading incentives while clarifying that stablecoins cannot be used as interest-bearing deposit accounts.

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