The US Senate's planned vote on the CLARITY Act has been postponed, and the crypto industry is just starting to understand the real reasons behind this shift. A major exchange CEO recently made headlines by announcing opposition to the Crypto Market Structure Bill—a move that carries significant implications for how digital assets will be regulated moving forward.

At the heart of the debate lies a critical issue: stablecoin yield restrictions. Under the proposed framework, stablecoins wouldn't generate yields, which would fundamentally alter the competitive landscape. Traditional banks benefit from this arrangement, as it eliminates a key advantage crypto platforms currently hold. In fact, major financial institutions including established banking giants have already raised concerns about how these regulations could impact the broader financial ecosystem.

This isn't just about policy details—it's about market structure. The postponement reflects tensions between different stakeholders: crypto platforms advocating for fair competition, traditional finance seeking regulatory protection, and lawmakers caught between competing interests. The stablecoin yield question is emerging as a central sticking point in these negotiations, making it one of the most watched aspects of upcoming regulatory discussions.