Shares of digital asset-focused firms rose Monday (May 4) after lawmakers reached a compromise on the CLARITY Act crypto bill over the weekend, CNBC reported Monday.
The shares making gains on Monday included 20% for Circle, 10% for BitGo, 7% for Coinbase and 4% for Galaxy Digital, according to the report.
The lawmakers’ compromise would adjust the CLARITY Act to restrict crypto companies from paying interest or yield to users on passive stablecoin deposits but would allow them to offer rewards tied to activity such as trading, transactions or staking, according to the report.
The compromise is seen as a win for digital asset firms, the report said.
Dante Disparte, chief strategy officer and head of global policy and operations at Circle, said in a Friday (May 1) post on X that the compromise on stablecoin yield is a meaningful step in the negotiations around the CLARITY Act in that it signals that the United States is choosing to lead in digital assets.
“We support today’s bipartisan compromise and commend policymakers for advancing a pragmatic, pro-innovation framework,” Disparte said. “We look forward to working with Congress to move this legislation forward.”
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Coinbase Chief Policy Officer Faryar Shirzad addressed the compromise in a Friday post on X, saying that while the banks were able to get more restrictions on rewards, the crypto industry protected the ability of Americans to earn rewards based on usage of crypto platforms and networks.
“Now that this issue is behind us, it’s time to focus on the broader bill,” Shirzad said. “While this debate has been underway, lots of progress have been made on other areas like token classification, defi, and tokenization,” Shirzad said. “We’re excited to review the full, final text, and for the bill to move forward.”
It was reported Friday that the compromise on stablecoin yield and rewards is a key development as the Senate plans a markup of the crypto bill later this month.
While the CLARITY Act made it through the House of Representatives in 2025, it has remained stalled in the Senate since January amid disagreements between traditional financial institutions and crypto companies, especially around rules for stablecoin interest payments.