CryptoWorld News reports that U.S. Senators Tom Tillis and Angela Alsobrooks have reached a new proposal regarding stablecoin yields, aimed at fixing the loopholes left by the early "Genius Act." The new proposal explicitly states that rewards related to stablecoins should not resemble interest from traditional bank deposits, in order to close regulatory gaps and prevent platforms from offering similar returns under different labels. This new proposal brings more clarity and consistency to the stablecoin market, while also addressing the yield issues that the "Genius Act" did not fully resolve. Senate Banking Committee Chairman Tim Scott stated that the bill needs support from the entire Republican Party to move forward. Blockchain Association CEO Sommer Meisinger expressed appreciation, believing that resolving stablecoin yield issues will help push the bill closer to becoming law.

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