Recently, I came across a quite interesting market phenomenon. The U.S. stock market closed in the red on Monday amid the gloomy Middle East situation, with the Dow Jones down 1.13% and the S&P 500 slipping 0.41%, but cryptocurrency concept stocks surged against the trend. The driving force behind this came from a legislative development in Washington.

Maryland Democratic Senator Angela Alsobrooks and North Carolina Republican Senator Thom Tillis finally reached a compromise last Friday on the most controversial "stablecoin yield" clause in the Digital Asset Market Clarity Act. As soon as this news broke, the entire crypto concept stock sector exploded. The stock price of USDC issuer soared nearly 20% in a single day, closing at $119.53, up 32.4% over the past month, with a year-to-date increase exceeding 50%. Other infrastructure stocks also took off, with digital asset custodian BitGo rising 10.26%, online broker Robinhood up 3.92%, and reserve company SOL Strategies posting a 17.83% gain.

What is the core of this compromise plan? It prohibits platforms from paying interest or yields solely because U.S. customers "hold" stablecoins, and also blocks any reward mechanisms equivalent to "bank deposit interest." But here’s a key point—the bill retains room for rewards based on real activities (payments, transfers, staking, governance, etc.), meaning some large exchanges can still design legitimate incentive mechanisms. That’s what excites the market.

Traditional banks are quite unhappy about this. The American Bankers Association directly opposed it, worried that even if the law bans direct interest payments, funds will still flow continuously from bank accounts to crypto platforms under the guise of "reward programs," causing "deposit drain." In response, Tillis said on Monday that the compromise already "explicitly bans stablecoin rewards mimicking bank deposit interest," which should address the core concern of deposit outflows.

Meanwhile, Bitcoin buying interest remains strong, breaking the $80k mark this morning to reach $81,740. This policy positive has indeed ignited market sentiment, and crypto concept stocks have performed far better than the U.S. market’s decline, with a pretty clear difference.