Coinbase says stablecoin yield compromise could clear path for U.S. crypto bill

Coinbase said Senate negotiators have reached a compromise on stablecoin reward language, a development that could clear one of the biggest obstacles to the U.S. crypto market-structure bill.

Reuters reported on Friday that the company said a deal had been reached on a key provision in the legislation. The dispute centered on whether stablecoin issuers and crypto firms should be allowed to offer rewards or yield-bearing products tied to stablecoins.

The compromise comes after weeks of uncertainty over how lawmakers would handle stablecoin interest and rewards payments. Law360 reported that Senate Banking Committee members unveiled language on May 1 that appeared to resolve the standoff.

The policy fight matters because stablecoin rewards had become a major sticking point in broader negotiations over crypto market structure. Reuters said the agreement could help the bill move forward in the Senate.

The White House has separately analyzed the effects of prohibiting issuer-level stablecoin yield while noting that affiliate or third-party reward structures may still exist under some versions of the law. That background helped make the rewards issue one of the most contested parts of the debate.

A fuller picture of the compromise text has not yet been publicly released, and it remains unclear when Senate leadership may schedule the next procedural step or a vote.

For now, the reported deal marks a significant policy breakthrough for Coinbase and for lawmakers trying to advance crypto legislation after months of disagreement over stablecoin rewards.