According to Kristin Smith, President of Solana Policy Institute, U.S. Senators Angela Alsobrooks and Thom Tillis reached a compromise on stablecoin rewards last week, significantly improving prospects for comprehensive digital asset legislation. Smith raised her estimated odds of the bill becoming law from 40% to 60%, citing the breakthrough on a major sticking point that had previously stalled Senate Banking Committee negotiations.
The compromise blocks “covered parties” from paying interest or yield on stablecoins held by U.S. customers, while permitting activity-based or transaction-based rewards tied to genuine transactions. However, ethics provisions remain contentious, with Sen. Kirsten Gillibrand stating this week at Consensus Miami that no bill can advance without addressing concerns over President Trump’s crypto ventures, estimated at $1.4 billion by Bloomberg.
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