‘We do not see a middle ground’: TD Cowen says stablecoin yield fight could still delay crypto bill
The Block
Major banking groups oppose a stablecoin yield compromise, increasing the risk of further delays for U.S. crypto market structure legislation.Summary
Investment bank TD Cowen warns that a united opposition from major banking trade groups against a proposed stablecoin yield compromise could stall crypto legislation. While some lawmakers proposed allowing specific transaction-based rewards, banks argue the move remains insufficient, viewing crypto yield offerings as a direct threat to traditional deposits. With additional legislative hurdles, including ethics concerns and committee scheduling, analysts suggest that the window for passing the bill this year is closing rapidly.
(Source：The Block)