Overview
- The Tillis–Alsobrooks proposal unveiled Friday bars passive, deposit-style payouts on stablecoins, which are dollar-pegged tokens, while preserving rewards tied to real use like staking, governance, or transactions.
- Coinbase endorsed the compromise and urged the Senate Banking Committee to move to a markup, calling the approach a workable path that keeps usage-based incentives.
- Major U.S. bank trade groups said the text still “falls short” of stopping deposit flight, and Tillis replied Monday that he respectfully disagrees and does not plan to reopen the yield talks.
- Banking Chair Tim Scott says he is working toward a May markup, but GOP unity, Sen. John Kennedy’s housing leverage, and still-open developer and ethics provisions could delay the schedule.
- Prediction odds for 2026 passage jumped after the deal, yet larger investors say they will hold off until the SEC, CFTC, and Treasury finalize rules the bill assigns them to write within a year.