US Crypto Bill Advances with Stablecoin Yield Deal

A breakthrough has been made in the ongoing negotiations on the crypto market bill, with a deal reached on a key provision related to stablecoin yields.

The provision, which had caused tension between banks and cryptocurrency firms, relates to whether exchanges can offer rewards to customers for holding stablecoins. According to Coinbase, the agreement allows for rewards based on 'real usage' of crypto platforms and networks.

Industry observers say that the deal may help clear the path for the bill to move forward in the Senate Banking Committee, where it has been stalled since January. The White House has been actively involved in brokering a compromise between banks and cryptocurrency firms.