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Deep Tide TechFlow News: On May 06, according to The Block, investment bank TD Cowen said that a banking industry group has officially opposed a stablecoin yield compromise plan, which could continue to delay the progress of the U.S. crypto market structure bill and reduce the likelihood that the bill will pass this year.
Jaret Seiberg, Managing Director of TD Cowen’s Washington research group, said that there is “no middle ground” between the banking industry and major crypto platforms. The banking industry opposes crypto platforms attracting retail users by using rewards tied to stablecoin trading to keep liquidity in crypto wallets. Seiberg believes the dispute may push the bill’s review to June, with a deadline before the August recess—or ahead of a critical timeframe to get the bill passed.