‘Let crypto bill die’ – Crypto VC cites stablecoin yields as red line
Some crypto industry leaders are disappointed following reports that lawmakers might be open to the idea of banning stablecoin yields.
According to reporter Sander Lutz, lawmakers are now receptive to TradFi demands to change stablecoin yield rules during bipartisan negotiations on the crypto market structure bill. The bill is scheduled for a markup on 15 January.
Source: X
Reacting to the development, Galaxy CEO Mike Novogratz slammed the legislators, calling the update a “sad state.”
“Sad state that Congress cares more about banks margins than they do consumers! Both D’s and R’s need to ask who are they serving?”
For his part, Nic Carter, partner at crypto VC firm Castle Island Ventures, said that the…
