U.S. Lawmaker's Office Plans to Release Stablecoin Yield Clause Draft Next Week, Industry Prepares Counter-Proposal

Odaily News: Crypto journalist Eleanor Terrett disclosed that the office of U.S. Senator Thom Tillis plans to publicly release legislative text involving stablecoin yields and reward mechanisms next week, and is currently in ongoing communication with various industry stakeholders.

The report states that this move comes as crypto industry participants like Coinbase expressed dissatisfaction with the related clauses presented earlier this week. David Duong, Global Head of Investment Research at Coinbase, stated that the industry is preparing a coordinated counter-proposal aimed at pushing for adjustments to the clauses to maintain sustainable reward mechanisms while protecting users.