🚨IMPORTANT🚨

UPDATES ON THE MARKET STRUCTURE BILL #CRIPTO

The SENATORS have reached an AGREEMENT with the White House to resolve the DISPUTE over the yields of stablecoins with the BANKS.

"This could resolve the standoff between banks and crypto over stablecoins"

🔹The major obstacle was the "yield" of stablecoins

🔹Crypto companies (like Coinbase) wanted to offer interest to users who store their stablecoins on their platforms to attract customers

🔹Traditional banks strongly opposed, arguing that this would cause a "deposit flight"

What does the recent "deal" consist of?

🔹Although the final details are being polished, the agreement seeks a middle ground:

🔹Prohibition of passive interest: the ability to pay interest only for "holding" the currency would be limited (like a savings account).

🔹Permission for "rewards" for activity: certain incentives would be allowed if they are linked to transactions or active use of the network, to not stifle innovation.

👇This was the main point that had the legislation "frozen" since January.

Senators mention that they are in the "final stages" and could have a strong position next week to move forward.

With this agreement, the Senate Banking Committee could finally vote and advance the bill towards final approval.

#Crypto increasingly closer to having CLEAR regulation that allows investment from the largest players. #bitcoin $BTC