In brief
- Stablecoin rewards are emerging as a focal point for a crypto market structure bill.
- A lobbyist described the yield-like payments as a major unresolved factor.
- They said that they’ve received assurances of “parity” from lawmakers.
The debate surrounding stablecoin rewards is growing louder as the Senate Banking Committee approaches a key markup vote on a crypto market structure bill next Thursday.
After hundreds of community bank leaders urged U.S. Senate members to protect local lending from perceived stablecoin risks, several high-profile members of the crypto industry pushed back, including Coinbase Chief Policy Officer Faryar Shirzad.
“Congress already settled this in GENIUS—reopening it now only creates uncertainty…
