At the Milken Institute Future of Finance event, Rep. French Hill emphasized the need for legislative clarity on stablecoin yields. Hill suggested that if the Senate fails to reach a consensus, lawmakers should adopt the House-passed CLARITY Act, which garnered support from 78 Democrats. The Act aligns with the GENIUS Act, defining stablecoins as a payment device on a blockchain rather than an investment product. Hill also mentioned that a Treasury rulemaking could fairly address the issue of yield payments by stablecoin issuers.