Bipartisan Text of US Crypto Bill Released: Banks May Gain the Upper Hand in the Current Stablecoin Revenue Dispute
PANews, January 13 — According to crypto journalist Eleanor Terrett, after months of intense negotiations among Senate Republicans, Democrats, and industry participants, a bipartisan text of the 278-page crypto market structure bill has been released. Banks may have gained the upper hand in the latest round of the stablecoin yield dispute. The latest draft (page 189) stipulates that companies are prohibited from paying interest solely because users hold balances. Users may receive rewards, but only if the rewards are related to account opening activities or activities such as trading, staking, providing liquidity, collateralizing assets, or participating in network governance. Senators now have 48 hours to propose amendments to the bill text, so it is unclear whether these provisions will remain unchanged by Thursday.
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