The U.S. Congress insists on rejecting “yield-generating stablecoins”

Odaily News The U.S. Congress still insisted on not including "yield-based stablecoins" in the "STABLE Act" during its review. French Hill, chairman of the House Financial Services Committee, said the bill aims to regulate the payment system rather than create investment tools. Industry insiders criticized this move for protecting the interests of traditional banks and hindering financial innovation and fair competition. (Eleanor Terrett)