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Bipartisan Text of US Crypto Bill Released, Banks May Gain Upper Hand in Stablecoin Yield Battle
Summary: According to crypto journalist Eleanor Terrett, after months of tense negotiations between Senate Republicans, Democrats, and industry insiders, the 278-page bipartisan text of the crypto market structure bill has been released. Banks may gain the upper hand in this round of stablecoin yield battle. The latest draft (page 189) stipulates that companies cannot pay interest ...
According to crypto journalist Eleanor Terrett, after months of tense negotiations between Senate Republicans, Democrats, and industry insiders, the 278-page bipartisan text of the crypto market structure bill has been released. Banks may gain the upper hand in this round of stablecoin yield battle.
The latest draft (page 189) stipulates that companies cannot pay interest solely based on user balances. Users can earn rewards, but only when rewards are linked to account opening, trading, staking, providing liquidity, collateralizing assets, or participating in network governance. Senators now have 48 hours to propose amendments to the bill text, so it is unclear whether these provisions will remain unchanged by Thursday.
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Link: Bipartisan Text of US Crypto Bill Released, Banks May Gain Upper Hand in Stablecoin Yield Battle [Copy]
