• Key insight: Draft legislative language circulating on Capitol Hill meant to break an impasse between crypto firms and banks on stablecoin yield contains a lengthy list of exemptions for crypto firms, which is unlikely to generate bank support. 
• What’s at stake: Bankers are worried that crypto firms can offer yield-like products without the oversight and disclosure requirements that come with being a bank. 
• Forward look: The language has not been incorporated into any bill and could change as lawmakers continue hashing out details. 

WASHINGTON — The new crypto market structure bill language circulating among stakeholders isn’t winning over banks, due to its inclusion of loopholes for stablecoin and crypto companies to continue to…