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Negotiations on US Stablecoin Legislation Close to Consensus, Yield Issue Key Breakthrough
Summary: During the DC Blockchain Summit hosted by The Digital Chamber, multiple US congressmen and industry insiders will discuss the progress of stablecoin legislation. Tim Scott, Chairman of the Senate Banking Committee, is expected to be questioned about the timetable for the next markup of related bills at the event. Insiders revealed that negotiations surrounding the ...
During the DC Blockchain Summit hosted by The Digital Chamber, multiple US congressmen and industry insiders will discuss the progress of stablecoin legislation. Tim Scott, Chairman of the Senate Banking Committee, is expected to be questioned about the timetable for the next markup of related bills at the event. Insiders revealed that negotiations surrounding the stablecoin 'yield' issue are close to reaching a consensus. Cody Carbone suggested that regulatory proposals may include prohibiting yield on idle stablecoin balances, but allowing reward mechanisms based on transaction behavior, with parties expected to reach a solution in the coming week. Additionally, Thom Tillis and Angela Alsobrooks are seen as key legislative drivers, expressing concerns about funds flowing from deposit accounts to high-yield crypto products in the banking industry. Insiders believe that once these two lawmakers are satisfied with the bill text, the stablecoin yield rate dispute is expected to be resolved, with regulatory focus shifting to issues such as DeFi and token classification. (Cryptoinamerica)
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