The revised Digital Asset Market Clarity Act, announced by Senators Angela Alsobrooks and Thom Tillis, will ban yield payments for simply holding a stablecoin and restrict any approach that makes the program in any way equivalent to a bank deposit. This decision was made in an attempt to clear a roadblock in the effort to get a hearing in the Senate Banking Committee. The new legislation will allow rewards programs on users' stablecoin activities but not balances. However, the mechanics of determining activities-based stablecoin rewards are uncertain. The industry also needs to see the final approach to oversight of the decentralized finance (DeFi) space, which has been a concern for Democrats seeking illicit finance protections.