TD Cowen: Divergence in stablecoin yields worsens, potentially hindering the progress of U.S. cryptocurrency legislation

ME News Report, May 6 (UTC+8), TD Cowen pointed out that disagreements over the yield mechanisms of stablecoins remain difficult to reconcile, potentially delaying the progress of the U.S. crypto market structure bill and even affecting its likelihood of passing within the year. Several banking organizations, including the American Bankers Association, have officially opposed the related compromise plan, arguing that allowing crypto platforms to offer stablecoin yields to users would disrupt traditional banks. Analysts say that banks and crypto platforms hold opposing positions on this issue, and in the short term, “there is no middle ground,” which has become a key obstacle in the current legislative process. (Source: ODAILY)