TechFlow News: On March 23, according to *Crypto in America*, representatives from the cryptocurrency and banking industries will head to Capitol Hill this week to review a compromise legislative text on stablecoin yields and rewards reached between the Senate Banking Committee and the White House. The text remains strictly confidential, but it is expected to include provisions prohibiting yield payments on idle balances. Senator Cynthia Lummis has indicated that any language resembling bank deposit interest—such as “interest-bearing” products—will not appear in the bill. If the Senate Banking Committee aims to complete its review in April, following the Easter recess, time for stakeholders to renegotiate is already extremely limited. Meanwhile, a reportedly crypto-industry-friendly report by the White House Council of Economic Advisers on stablecoin deposit outflows is expected to be publicly released soon.
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