Crypto, Banks Clash Continues With New Proposal Concerns
Cointelegraph
Senator Thom Tillis is working to resolve disputes between banks and crypto firms regarding stablecoin yield regulations in pending Senate legislation.Summary
Senator Thom Tillis is preparing to release a draft agreement aimed at resolving a standoff between the banking and cryptocurrency industries over the Senate’s crypto market structure bill. The conflict centers on a proposed ban on third-party stablecoin yield payments, which banks fear could trigger deposit flight from traditional savings accounts. Despite multiple White House-mediated meetings, both sectors remain concerned about the proposal's potential impact. Tillis plans to continue negotiations and may host further meetings to finalize the language surrounding enforcement and anti-evasion provisions.
(Source：Cointelegraph)