"Garlinghouse stated, 'When people are at their peak frustration, that's when they finally compromise, and it gets done. I think we're there.' This reflects the urgency and potential for resolution regarding the stablecoin yield dispute."
"Senator Thom Tillis is expected to release a revised draft of the stablecoin yield compromise soon. If accepted, the Banking Committee can finally schedule the markup that has been delayed since January."
"The ongoing debate centers on whether crypto platforms like Coinbase should be allowed to pay interest-like rewards on stablecoin balances, with banks arguing it would undermine traditional savings accounts."
The Senate Banking Committee is targeting a late April markup for the CLARITY Act, which could provide XRP with necessary regulatory clarity. Garlinghouse indicated that the stablecoin yield dispute is nearing resolution, suggesting compromise is imminent. He previously estimated an 80% chance of the Act passing by the end of April. Delays have stemmed from disagreements over whether crypto platforms can offer interest-like rewards on stablecoin balances. A compromise was reached, but Coinbase's initial rejection of the draft has complicated progress.
Read at 24/7 Wall St.
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