Senate Panel Considers Landmark Digital Asset Bill Amid Stablecoin Changes

A key Senate panel has begun considering a landmark digital asset bill, which has been long-sought by the crypto industry. Banking groups are proposing last-minute changes to a compromise on stablecoin yields, in an effort to move forward with the legislation.

The proposed changes aim to address concerns over the stability of stablecoins, which are cryptocurrencies pegged to the value of traditional currencies. The compromise was brokered by Senators Thom Tillis and Angela Alsobrooks earlier this month.