Coinbase Says Bank Deal on Stablecoin Yield Clears Path for Senate Crypto Bill

Coinbase said it resolved a key dispute with traditional banks over stablecoin yield terms, clearing a path for the U.S. Senate to advance a crypto market structure bill. Banks had pushed to limit or prohibit exchanges from offering yields to stablecoin holders because of concerns about deposit outflows from the banking system. Faryar Shirzad said the compromise adds some restrictions but preserves users’ ability to earn rewards through crypto platforms and networks based on actual use cases.