Stablecoin rewards fight puts U.S. crypto market-structure bill on shaky ground
A brewing showdown over stablecoin rewards is threatening to derail Congress’s latest push to regulate digital assets, as banks and crypto firms clash over who should be allowed to pay yield.
The fight has intensified following the release of a sweeping Senate bill that would reshape oversight of the crypto industry just days before a critical committee vote. However, much of the immediate attention has centered on how the bill treats rewards tied to stablecoins.
Lawmakers, industry executives, and banking groups are now combing through dense legal language ahead of a fast-approaching amendment deadline. Under the current draft, digital asset service providers would be barred from paying interest or yield to users simply for holding…
