New Legislation Allows Crypto Firms to Offer Rewards on Stablecoins While Protecting Bank Interests
A newly unveiled agreement addresses the contentious issue of stablecoin yield in the crypto market, proposing an approach similar to previous discussions. The compromise, reached by US Senators Thom Tillis and Angela Alsobrooks, would prohibit stablecoin issuers from offering yield solely based on holding stablecoin reserves, as this may undermine the financial services provided by depository in…