Coinbase said a compromise on a key stablecoin rewards provision could clear the way for landmark U.S. crypto legislation to advance in the Senate. The deal reportedly narrows restrictions on yield-like rewards while preserving the ability of crypto users to earn incentives tied to real activity on digital asset platforms.
The proposed bill, part of the broader Clarity Act framework, has been stalled by tensions between banks and crypto firms over stablecoin yield and deposit competition. The latest compromise also calls for new stablecoin disclosure rules and a list of permitted reward activities, as lawmakers try to create clearer regulations for the crypto industry.
Read the original article here: https://www.msn.com/en-ca/money/topstories/coinbase-says-deal-reached-on-key-provision-of-crypto-bill/ar-AA22cskB?ocid=BingNewsVerp