Overview
- Negotiators from crypto firms and banks reviewed new stablecoin yield language and say a workable compromise may be close.
- Senator Bill Hagerty expects the Senate Banking Committee to take up the bill in April, though Chairman Tim Scott has not announced a markup date.
- The leading framework would ban passive, interest-like payouts on stablecoin balances while allowing narrowly defined rewards tied to payments or platform use.
- Major players such as Coinbase have opposed broad bans on passive yields, yet Coinbase’s legal chief says lawmakers are very close to final language.
- A White House research report is expected to view some stablecoin rewards as compatible with banking, even as banking groups warn yield-bearing coins could drain deposits.