Some crypto companies have proposed giving community banks a bigger stablecoin role as Senate negotiations stall over the contentious market structure bill.
Crypto companies are reportedly floating concessions relating to stablecoin yields in an attempt to unfreeze the delayed crypto market structure bill.
The legislation passed the House but has stalled in the Senate as negotiations continue over whether stablecoin issuers should be allowed to offer yields, with banks arguing it will compete with and take money away from traditional savings accounts.
Anonymous sources told Bloomberg that crypto firms are now making new proposals, such as giving community banks a bigger role in the stablecoin system, to ease the bill through the Senate.
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