Wall Street Firms And Crypto Companies To Review Market Structure Proposals

"A small group of crypto firms and Wall Street institutions will privately review the updated legislative text over the next two days, with crypto companies expected to see the language as early as Thursday and banks on Friday."

"The renewed review of a stablecoin yield proposal comes amid a broader effort in Congress to resolve one of the most contested issues in U.S. crypto regulation: whether stablecoin issuers should be permitted to offer yield-bearing products."

"Stablecoins - digital tokens typically pegged to the U.S. dollar and backed by cash and short-term securities - have become a core settlement layer in crypto markets, but their regulatory status remains unsettled, particularly around interest and yield."

A revised stablecoin yield proposal is under review by crypto and banking representatives to address regulatory uncertainties. This follows negotiations aimed at reconciling differences over yield provisions. Stakeholders will access the draft in controlled settings without copies. The proposal is part of ongoing efforts in Congress to clarify the regulatory status of stablecoins, which are essential in crypto markets. The discussions build on the GENIUS Act, which established a federal framework for stablecoins, emphasizing transparency and reserve disclosures.

Read at Bitcoin Magazine