The stablecoin yield clash that won't go away has banks, crypto battling over tradition
U.S. banks and crypto advocates are clashing over the Digital Asset Market Clarity Act, specifically regarding stablecoin yields. Banks argue that crypto firms offering interest-like rewards threaten traditional lending models and lack sufficient regulatory oversight.
That argument may have contributed to fatally derailing the Senate's Digital Asset Market Clarity Act. Even after a high-profile bipartisan compromise months back, bank lobbyists pushed their worries back into the forefront earlier this month, just in time to help knock over the already teetering legislation. Still, the destiny of U.S. stablecoin yield isn't yet resolved.
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