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Senators Strike Stablecoin Yield Deal, Boosting Crypto Bill

Published 1 week, 6 days ago
Description

Senators Tillis and Alsobrooks reach a deal on stablecoin yields, potentially advancing the Digital Asset Market Clarity Act. The compromise allows rewards for holding stablecoins tied to the U.S. dollar, but only for active balances, safeguarding traditional banking. The bill still faces hurdles, including concerns around decentralized finance, and a Senate Banking Committee hearing is scheduled for late next month.

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