Legislative staffers are meeting with crypto and banking industry representatives on Thursday and Friday to discuss revised compromise language for stablecoin yield provisions in the market structure bill, according to sources familiar with the plans. The proposed compromise, led by Senators Angela Alsobrooks and Thom Tillis, was first reviewed by industry representatives last week and banned yield based solely on stablecoin balances, while allowing yield based on activities. However, the crypto industry had 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 and the potential involvement of U.S. President Donald Trump's family with crypto projects.