Legislative staffers are meeting with representatives from the crypto and banking sectors on Thursday and Friday to discuss revised compromise language for stablecoin yield provisions in the market structure bill, according to sources. The compromise language, led by Senators Angela Alsobrooks and Thom Tillis, was first viewed by industry leaders 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 bill's text was initially expected to be released this week, but it is now unlikely. Portions of the language are still being negotiated, with some desired changes being technical tweaks to clarify details.
Senator Cynthia Lummis expects a markup hearing later in April, where lawmakers will debate and vote on the bill. 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.