U.S. Crypto Legislation Stalled Over Stablecoin Yield Dispute, Digital Chamber Proposes Compromise Plan

Mars Finance reports that, according to CoinDesk, the U.S. Senate’s Crypto Market Structure Bill has stalled over stablecoin yield issues. Bankers insist on a complete ban on stablecoin yields, citing threats to bank deposit operations; the Digital Chamber of Commerce released a principles document today in response, expressing willingness to forgo interest on static stablecoin holdings but insisting on retaining reward mechanisms related to liquidity provision and ecosystem participation, especially in the DeFi sector. The White House has urged both sides to reach a compromise by the end of this month, with a new round of meetings possibly scheduled for next week. Cody Carbone, CEO of the Digital Chamber of Commerce, stated that if bankers refuse to negotiate, the current situation will persist with reward mechanisms continuing to exist.