Senate Banking Panel Blocks Stablecoin Yields Ban in Digital Asset Clarity Act Negotiations

Senate Banking Committee discussions at the White House on February 10, 2026, highlighted a key impasse over whether to ban stablecoin yields. Banking groups circulated a principles document opposing any form of financial or non-financial consideration tied to stablecoin ownership, seeking a general prohibition and regulatory enforcement tools to prevent deposit flight. The document also called for a regulator study on the deposit impact of stablecoin activity. Crypto stakeholders, including Coinbase, Ripple, and the Blockchain Association, urged compromise, with Blockchain Association CEO Summer Mersinger and CCI CEO Ji Kim expressing constructive engagement. The bill, the Digital Asset Market Clarity Act, already cleared the House and has support in the Senate Agriculture Committee but faces headwinds from banking concerns and pending DHS funding issues. Additional sticking points include restrictions on executive crypto involvement due to former President Trump’s interests and staffing requirements for the CFTC.