Overview
- Senators Thom Tillis and Angela Alsobrooks said they have an agreement in principle on stablecoin yield, a breakthrough that could advance the crypto market‑structure bill.
- Reporting indicates the compromise would prohibit yield on idle stablecoin holdings while allowing narrowly defined activity‑based rewards.
- The White House is reviewing updated draft language, and Senator Cynthia Lummis says the Banking Committee is aiming for a markup in the latter half of April.
- As Congress moves toward statute, the SEC issued interpretive guidance narrowing what it treats as securities and signed an MOU with the CFTC to coordinate oversight.
- Key issues still to resolve include DeFi treatment, ethics safeguards, possible CFTC appointments, and potential legislative trades such as community‑bank or housing provisions.