Stablecoin impasse causing DeFi, ‘ethics’ concerns grow
Tech Stablecoin impasse causing DeFi, ‘ethics’ concerns grow Just when U.S. crypto supporters think theyve extinguished one digital asset market structure fire, new blazes ignite, and the smoke is making the finish line even harder to see. The Senate Banking Committee has yet to schedule a markup session for its CLARITY Act digital asset market structure bill, despite recent claims that the long-running stablecoin ‘yield/rewards’ fight between crypto stakeholders and the banking sector had been resolved. On April 21, Sen. Thom Tillis (R-NC) poured cold water on hopes that Banking would hold a markup session this month, suggesting May was a far better bet. Tillis, who has been working with fellow Committee member Angela Alsobrooks (D-MD) on a bipartisan stablecoin compromise (the text of which has yet to be made public), said more time was needed to ensure all stakeholders views received ample consideration. Accordingly, stakeholders on both sides of this debate have been airing their concerns/grievances with Banking members. Crypto In Americas Eleanor Terrett reported that the North Carolina Bankers Association asked their employees to call Tillis to insist on “an airtight prohibition” of digital asset platforms like Coinbase (NASDAQ: COIN) offering “any interest or yield-like payments tied to the holding, retention, or balance