According to The Block, U.S. Senators Angela Alsobrooks and Thom Tillis reached a compromise on stablecoin rewards last week, clearing a major hurdle for broader cryptocurrency legislation. The deal blocks “covered parties” from paying interest or yield to U.S. customers solely for holding stablecoins, while permitting activity-based or transaction-based rewards. Kristin Smith, president of the Solana Policy Institute, estimates the odds of comprehensive crypto market structure legislation passing have improved to roughly 60%, up from 40% two weeks prior. The Senate Banking Committee is expected to hold a second markup hearing as early as next week.
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