Crypto and banking industry representatives are scheduled to meet with legislative staff on Thursday and Friday to examine revised compromise language on stablecoin yield provisions in the market structure bill, according to sources familiar with the plans. The compromise language, led by Senators Angela Alsobrooks and Thom Tillis, was first reviewed last week and initially banned yield based solely on stablecoin balances, while allowing companies to pay out yield based on activities. However, the crypto industry raised some concerns with the language. The release of the bill's text, initially expected this week, has been delayed.
Negotiations are ongoing, with some technical tweaks being made to clarify details. The Senate Banking Committee's rules require the bill to be published at least 48 hours before a markup hearing, which Senator Cynthia Lummis expects to take place later in April. Other outstanding concerns include the definition and regulation of decentralized finance (DeFi) and the bill's potential impact on the involvement of U.S.
President Donald Trump's family with various crypto projects.