U.S. Stablecoin Legislation Negotiations Near Consensus, Stablecoin Yield Issue Remains Key Breakthrough

Odaily News During The Digital Chamber's DC Blockchain Summit, multiple U.S. congressmen and industry figures will discuss the progress of stablecoin legislation. Tim Scott (Chairman of the Senate Banking Committee) is expected to be asked about the timeline for the next review (markup) of the relevant bill during the event. Industry insiders revealed that negotiations surrounding the "yield" issue of stablecoins are nearing a consensus. Cody Carbone stated that the regulatory proposal may include prohibiting yields on idle stablecoin balances but allowing reward mechanisms based on transactional activities. The relevant parties are expected to reach a solution within the next week.

Additionally, Thom Tillis and Angela Alsobrooks are seen as key legislative drivers. Both have expressed concern regarding the banking industry's worries about funds flowing from deposit accounts to high-yield crypto products. Industry insiders believe that once these two legislators are satisfied with the bill's text, the stablecoin yield controversy is expected to be largely resolved. Subsequently, the regulatory focus will shift to issues such as DeFi and token classification. (Cryptoinamerica)