U.S. Senate Banking Committee in last-minute talks to finalize crypto market-structure bill… stablecoin yield emerges as key flashpoint

As the U.S. Senate’s crypto (cryptocurrency) market-structure bill enters a last-minute negotiation phase, the issue of stablecoin yield has emerged as the biggest point of contention.

According to Eleanor Terrett, host of CryptoAmerica, on the 13th (local time), the U.S. Senate Banking Committee is continuing work with the aim of submitting, before midnight, the latest draft of the market-structure bill that preserves bipartisan agreement.

In particular, disagreements over whether to allow the provision of stablecoin yield have reportedly surfaced as the most difficult sticking point in the talks. The question is how to regulate structures in which stablecoin issuers or platforms offer returns in the form of interest or rewards, with opinions sharply divided between protecting the industry and safeguarding financial stability.