Representatives of the crypto and banking industries are meeting with legislative staffers this week to review revised compromise language on stablecoin yield provisions in the market structure bill. The text was originally expected to be released this week, but that is now unlikely as lawmakers continue negotiations on key provisions.
Senator Cynthia Lummis (R-Wyo.) said last month that she expected a markup hearing later in April. While stablecoin yield and rewards are the most prominent issues holding up passage of the market structure bill, other concerns remain outstanding. These include how exactly decentralized finance (DeFi) might be defined and regulated in the bill and whether it will address U.S. President Donald Trump's family's involvement with various crypto projects.
At the time, the proposed compromise banned yield based solely on stablecoin balances, but did allow companies to pay out yield based on activities. The crypto industry had some issues with the language, leading to the current round of revisions and meetings.
