PANews reported on May 5th that Fox Business reporter Eleanor Terrett published an article on the X platform stating that US Senators Thom Tillis and Angela Alsobrooks issued a joint statement regarding a compromise on stablecoin yields under Section 404 of the Clarity Act. This statement may indicate that the relevant agreement is nearing finalization.

The statement said the two leaders had discussed with various stakeholders the banking industry’s concerns about deposit outflows, and the proposed compromise would prohibit stablecoin rewards similar to bank deposit interest while allowing crypto companies to offer other forms of customer rewards.