U.S. Stablecoin Yield Regulation Negotiations Near Consensus, Propose Allowing Transaction-Based Rewards

Techub News reports, according to Crypto In America, during the Washington DC Blockchain Summit, negotiations between the crypto industry and the banking sector on stablecoin yield regulation are nearing a consensus. Cody Carbone, CEO of the Digital Chamber of Commerce, stated that both sides lean towards a compromise: prohibiting the payment of yields on idle stablecoin balances but allowing transaction-based rewards, to alleviate traditional banks' concerns about deposit outflows. Currently, Senators Thom Tillis and Angela Alsobrooks are seen as the key "gatekeepers" for the agreement's finalization. Once the yield provisions are legislatively finalized, the remaining disputes regarding DeFi and token classification are expected to be resolved more swiftly. Senate Banking Committee Chairman Tim Scott is anticipated to provide more clarity on the committee's next voting schedule during the summit.