U.S. Stablecoin Legislation Negotiations Near Consensus on Yield Issue

According to ChainCatcher, during the DC Blockchain Summit hosted by The Digital Chamber, several U.S. congressmembers and industry representatives will discuss the progress of stablecoin legislation. Senator Tim Scott, Chair of the Senate Banking Committee, is expected to be asked about the timeline for the next markup of the relevant bill. Industry insiders reveal that negotiations surrounding the issue of stablecoin “yield” are nearing consensus. Cody Carbone stated that the regulatory framework may include a prohibition on yielding returns for idle stablecoin balances, while permitting reward mechanisms tied to transaction activity, with stakeholders有望 reaching a solution within the coming week. Additionally, Thom Tillis and Angela Alsobrooks are seen as key legislative drivers, both expressing concern over the banking industry’s worries regarding funds flowing from deposit accounts into high-yield crypto products. Industry insiders believe that once these two senators are satisfied with the bill’s language, the dispute over stablecoin yields will be largely resolved, after which regulatory focus will shift to DeFi and token classification issues.