As discussions continue in the United States regarding the Clarity Bill, which is expected to shape the cryptocurrency market, the issue of stablecoin yield has become one of the most critical topics in the regulatory process. A new draft text published today would suggest that, under pressure from the banking sector, direct income from stable balances would be banned. This has caused serious concern in the cryptocurrency market.
However, according to new information reported by White House correspondent Sander Lutz, significant flexibility in favor of the crypto sector could have emerged during negotiations on the draft text. According to reports from two sources, the new regulatory language could allow returns to be generated on staked stablecoins. If this approach is adopted, users will be able to continue earning passive income by staking their stablecoins.
Although this potential regulation is seen as a significant win for the crypto sector, the debate quickly shifted to the banking sector. The crucial question is whether banks will view the returns generated by staking as a direct threat to their business models. Indeed, another source close to the matter said it would be “illogical” for the banking sector to accept such a compromise, highlighting the depth of the disagreement between the parties.
On the other hand, it appears that the aforementioned compromise text will be examined today by representatives of the banking sector on Capitol Hill. As a result of this review process, the regulation on stablecoins should take its final form and the fate of the Clarity Bill should become clear.
*This does not constitute investment advice.