Tillis and Alsobrooks Signal Stablecoin Yield Compromise Is Likely Final
Senators Thom Tillis and Angela Alsobrooks said a compromise on Senate stablecoin yield language is likely final, pushing back against objections from bank trade groups. In a joint statement, the lawmakers said they “respectfully agree to disagree,” signaling they do not expect to reopen the deal.
Bank trade groups had said the Senate stablecoin reward fix falls short of fully prohibiting the payment of yield and interest on stablecoins, amid deposit protection concerns, and planned to send suggested edits to lawmakers in the coming days. Even so, the groups avoided heavy criticism and the language appeared unlikely to change once the text was public.
From the sources (5 posts)
@eleanorterrett🚨JUST IN: Banking trade groups weigh in on the stablecoin yield compromise, saying it “falls short” of fully prohibiting the payment of yield and interest on stablecoins, but avoid criticizing it heavily. They say lawmakers can expect sugge
@cointelegraph🇺🇸 JUST IN: Banking trade groups say the CLARITY Act's stablecoin yield language "falls short" of a full prohibition. They plan to share suggested edits with lawmakers in the coming days.
@theblockcoBank trade groups say Senate stablecoin reward fix 'falls short' amid deposit protection concerns
@eleanorterrett🚨NEW: Joint statement from @SenThomTillis and @Sen_Alsobrooks on the stablecoin yield compromise amid pushback from banking trades, signaling the deal is likely final. "…we respectfully agree to disagree."
@cointelegraph🇺🇸 JUST IN: Senators Tillis and Alsobrooks say the stablecoin yield compromise in the CLARITY Act is final, pushing back on banking industry criticism with a joint statement. "We respectfully agree to disagree."