"Robinhood CEO calls for allowing interest payments via stablecoins"

Robinhood CEO Vlad Tenev urged Congress to allow consumers to earn returns through stablecoins (crypto assets pegged to the value of fiat currency).

On the 21st (Korea time), crypto-focused outlet Cointelegraph reported on X (formerly Twitter) that "CEO Tenev argued consumers should be able to earn returns on their stablecoin holdings just as they do with regular savings accounts."

Whether stablecoins should be allowed to pay interest is a key point of contention in the Clarity Act, one of the three major U.S. crypto bills, and it has fueled friction between the banking sector and the digital-asset industry. Banks have voiced concern about potential deposit outflows, while the industry has maintained that allowing rewards is necessary to attract users.

Meanwhile, U.S. political outlet Politico reported the White House and the Senate have reportedly reached a tentative agreement on stablecoin interest payments. The deal is said to include a plan to restrict interest paid on passive holdings while allowing some rewards tied to user activity.