Odaily Planet Daily report: Cryptocurrency journalist Sander Lutz, citing a banking insider directly involved in the negotiations, said the White House hopes to reach an agreement on stablecoin yields by the end of this weekend, but such an agreement is unlikely to be finalized before March. The insider stated that Patrick Witt’s previous public assertion that an agreement would be reached before March is unrealistic.
Sources indicate that significant disagreements remain between the cryptocurrency industry and banking lobbying groups on the issue of stablecoin yields, and these disagreements have hindered progress on the Crypto Market Structure Act. “The text is circulating, but there is still a gap to reaching a final bill.”
The individual also stated that there is a risk the agreement could fail if Coinbase CEO Brian Armstrong does not participate in the negotiations. Although the bank side hopes to reach an agreement, the likelihood of the bill passing within the next month is expected to decline significantly.