May 1 : Coinbase said on Friday a deal has been reached on a key provision in a landmark crypto legislation that could clear the path for the bill to move forward in the U.S. Senate.

• The bill stalled earlier this year because banks opposed a provision allowing stablecoin issuers and crypto firms to offer yield-bearing products and other rewards paid on stablecoins that could lure away bank deposits, making it harder for them to fund lending.

• Crypto giants such as Coinbase said they must be able to offer rewards to recruit customers and that barring them would be anticompetitive.

• “In the end, the banks were able to get more restrictions on rewards, but we protected what matters – the ability for Americans to earn rewards,…