Crypto Execs Push Congress to Let Stablecoin Issuers Pay Interest
Some crypto executives are reportedly pushing Congress to allow stablecoin issuers to pay interest on their U.S. dollar-pegged tokens.
The executives aim to add this provision to stablecoin bills that are being considered by the House and Senate, Reuters reported Thursday (April 3).
Currently, stablecoin issuers earn interest on the U.S. Treasuries and other cash equivalents they hold to maintain a peg on the dollar, but don’t pass any interest along to the tokens’ holders, according to the report.
Proponents of allowing issuers to pay interest on stablecoins argue that issuers should be allowed to do so because they already hold the assets and earn interest and that it is not fair that banks can share interest with…
