---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39890840.md"
description: "$Strategy(MSTR.US)$BitMine Immersion Tech(BMNR.US)A consensus has been reached on stablecoin yield terms. The rules for stablecoin yields are now clear: idle stablecoins earn no yield; only those used for trading and staking can receive rewards. This is the best possible outcome. Next, there are three aspects to consider, as follows: Three Major Headwinds (Key Points in One Sentence)1. Legislative Progress and Political Deadlines: Although the CLARITY Act has resolved the yield dispute, it remains stuck in the Senate Banking Committee. It requires a committee vote, 60 votes on the Senate floor, and reconciliation with the House version. The period before the Memorial Day recess on May 21st is a critical window. If it doesn't pass, it could be delayed until the midterm elections, significantly increasing uncertainty.2. Hard Constraints on Issuance and Reserves: The new rules require 100% full reserves (limited to low-risk assets like cash and short-term U.S. Treasuries), and these reserves can no longer be staked, lent, or used for speculation. This will compress issuer profits and also demand more transparent disclosure and auditing, posing a dual challenge of cost and compliance for major issuers like USDC and USDT.3. Regulatory Gaps in DeFi and Cross-Border Arbitrage: The new rules focus on compliant institutions, but the DeFi ecosystem still lacks clear regulations. Activities like stablecoin lending and re-staking by unlicensed entities may circumvent supervision, creating new risks. Meanwhile, stricter U.S. rules will accelerate innovation and capital flow to regions with more relaxed regulations (e.g., Hong Kong just issued its first batch of stablecoin licenses, with extremely strict but clear regulatory paths).(All three of the above are technically feasible and negotiable. The passage of the [CLARITY Act] seems to be only a matter of time.)"
datetime: "2026-04-14T07:24:18.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39890840.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39890840.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39890840.md)
author: "[AngerBird](https://longbridge.com/en/profiles/13017810.md)"
---

# $Strategy(MSTR.US)$BitMine Immersion Tech(BMNR.US)…


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## Comments (2)

- **i see · 2026-04-14T09:21:55.000Z**: The banking committee is highly likely to pass it in April.
- **AngerBird · 2026-04-14T07:25:31.000Z**: Investing involves risks, be cautious when entering the market!