As debates continue in the US regarding cryptocurrency regulation, legislative work on stablecoin yields is entering a new phase.
According to information reported by Eleanor Terrett, an official from Senator Thom Tillis’s office stated that the draft legislation, which includes details regarding stablecoin yields and reward mechanisms, will be made public next week.
It is noteworthy that this step comes while discussions with industry representatives are ongoing. In particular, Coinbase and other crypto stakeholders are reportedly dissatisfied with some clauses in the draft agreement presented to a limited number of industry leaders earlier in the week. This indicates that disagreements between the parties persist in the regulatory process.
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On the other hand, David Duong announced that the industry is working on a joint counter-proposal to the current draft. According to Duong, this counter-proposal aims to explain why targeted changes are necessary and to ensure both user protection and the continuation of sustainable reward programs.
*This is not investment advice.