Some crypto companies have proposed giving community banks a bigger stablecoin role as Senate negotiations stall over the contentious market structure bill.
Crypto companies are reportedly floating concessions relating to stablecoin yields in an attempt to unfreeze the delayed crypto market structure bill.
The House has advanced crypto market-structure legislation, but negotiations have stalled in the Senate as negotiations continue over whether stablecoin issuers should be allowed to offer yields, with banks arguing that such offerings would compete with and take money away from traditional savings accounts.
Anonymous sources told Bloomberg that crypto firms are now proposing measures, such as giving community banks a larger role in the stablecoin system, to help ease the bill through the Senate.
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