CLARITY Act’s Stablecoin Yield Deal Near as SEC Redefines Tokens

• Lawmakers advanced stablecoin yield talks, with a proposal expected as negotiations near agreement.

• SEC and CFTC introduced a framework classifying most crypto assets as non-securities.

• Bitcoin, Ether, XRP, and Solana were labeled digital commodities, shifting oversight to the CFTC.

After weeks of negotiations in Washington, lawmakers and regulators moved closer to resolving key crypto policy disputes this week. On Tuesday, Tim Scott said a stablecoin yield proposal could arrive soon, while regulators released a new framework classifying digital assets. The efforts aim to address policy gaps as Congress prepares for further action after the Easter recess.

Stablecoin Yield Talks Gain Momentum

Senate Banking Committee Chair Tim Scott said progress followed talks with Angela Alsobrooks and Thom Tillis. He also credited Patrick Witt for helping move discussions forward.

According to Scott, lawmakers expect a first proposal by the end of the week. Earlier that day, Harry Jung told a private session that talks had advanced. However, yield rules remain one part of a broader bill.

Title III, covering DeFi, is still under discussion between industry groups and Senate Democrats. Meanwhile, Brian Nistler said negotiations have become more detailed compared to last year. Scott also noted progress on ethics and quorum issues.

SEC And CFTC Define Crypto Classifications

At the same time, the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission issued a joint framework on crypto classification.

The 68-page document outlines five categories, including digital commodities and digital securities. It also explains how staking, mining, and airdrops fit within existing laws. Notably, regulators stated that most crypto assets are not securities.

They added that investment contracts tied to tokens can end over time. Paul Grewal welcomed the clarity after years of legal disputes. The framework also builds on prior work introduced by Gary Gensler.

XRP Decision And Next Legislative Steps

The agencies also listed several tokens as digital commodities. These include Bitcoin, Ether, Solana, XRP, and others. This classification shifts oversight toward the CFTC. It also resolves a long-running dispute involving Ripple.

Stuart Alderoty said the decision confirms XRP’s status as a digital commodity. Meanwhile, lawmakers continue work on market structure rules. According to sources, Senate Banking members will meet Thursday to discuss next steps.