White House and U.S. Senate reach tentative deal to ban interest payments on stablecoins
Summary
- The White House and U.S. senators said they reached a tentative agreement on the issue of paying yields on stablecoins.
- Sen. Angela Alsobrooks said they agreed to move toward banning the payment of interest on passively held stablecoin balances.
- If the agreement holds, the Senate Banking Committee is expected to begin deliberations on the bill as early as late April.
Forecast Trend Report by Period
The White House and U.S. senators have reached a tentative agreement on the issue of paying yields on stablecoins, a key sticking point in the crypto market structure bill (Clarity Act).
According to Politico on the 20th (local time), Sen. Angela Alsobrooks said, "We agreed to move toward banning the payment of interest on passively held stablecoin balances."
She explained that the agreement is "a compromise aimed at protecting both crypto innovation and the stability of traditional bank deposits."
However, the details of the agreement have not yet been disclosed, and further review by the banking sector and the crypto industry will be needed to move the legislation forward.
If the agreement holds, the Senate Banking Committee is expected to begin deliberations on the bill as early as late April.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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