The U.S. Senate's Crypto Market Structure Bill faces obstacles over stablecoin yield issues. After the banking sector demanded a complete ban on stablecoin yields, the crypto industry organization Digital Chamber released a principles document in response, stating that they can forgo static yields similar to deposit interest but should be allowed to have incentive mechanisms related to trading, liquidity, and ecosystem participation. The organization also agreed to a two-year study on the impact of stablecoins on deposits, proposed by the banking side, but opposed automatic triggering of regulatory restrictions. (CoinDesk)
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The U.S. Senate's Crypto Market Structure Bill faces obstacles over stablecoin yield issues. After the banking sector demanded a complete ban on stablecoin yields, the crypto industry organization Digital Chamber released a principles document in response, stating that they can forgo static yields similar to deposit interest but should be allowed to have incentive mechanisms related to trading, liquidity, and ecosystem participation. The organization also agreed to a two-year study on the impact of stablecoins on deposits, proposed by the banking side, but opposed automatic triggering of regulatory restrictions. (CoinDesk)