Legislative staffers are meeting with crypto and banking industry representatives on Thursday and Friday to discuss revised compromise language regarding stablecoin yield provisions in the market structure bill, according to sources. The compromise language, led by Senators Angela Alsobrooks and Thom Tillis, was first seen by industry representatives last week and proposed a ban on yield based solely on stablecoin balances, while allowing yield based on activities. However, the crypto industry had concerns with the language.
The release of the bill's text, initially expected this week, has been postponed. Portions of the language are still being negotiated, with some changes being technical tweaks to clarify details.
The actual changes made and the release date of the text are currently unclear. Senator Cynthia Lummis expects a markup hearing later in April, and the bill must be published at least 48 hours before the hearing. Other outstanding concerns include the definition and regulation of decentralized finance and the involvement of U.S.
President Donald Trump's family with crypto projects.