TechFlow News, March 11: According to CoinDesk, U.S. senators are negotiating a compromise on stablecoin yield provisions to advance the Digital Asset Market Clarity Act. Senators Angela Alsobrooks and Thom Tillis stated that the compromise aims to strike a balance between preventing deposit outflows and enabling innovation.
Senator Mike Rounds noted that stablecoin yields could be tied to account activity rather than holding amounts. Previously, the banking industry lobbied against the stablecoin yield provisions in the bill, arguing they would threaten traditional bank deposit businesses. JPMorgan Chase CEO Jamie Dimon recently indicated that the banking sector could accept a transaction-based yield model.
The bill still faces several contentious issues, including regulation of decentralized finance (DeFi), appointments to regulatory agencies, and prohibitions on senior government officials profiting from personal cryptocurrency activities. Additionally, its passage confronts procedural hurdles such as a tightly packed Senate legislative calendar.
