U.S. Crypto Industry Proposes Concessions to Banking Sector, Amid Market Structure Bill Discussions

Bloomberg reported on the 5th that U.S. cryptocurrency companies have presented a new concession proposal to the banking industry to facilitate the passage of the cryptocurrency market structure bill. The proposal includes roles for regional banks in holding reserves for stablecoins and enabling these banks to issue tokens through partnerships. The bill passed the House last year but has stalled in the Senate due to multiple disagreements. A major point of contention is whether cryptocurrency trading platforms like Coinbase Global should be allowed to pay yields to stablecoin holders. The banking sector argues that such mechanisms could compete with traditional checking and savings deposits...