According to reports, negotiations between the two parties on a key market structure bill indicate that both sides may consider banning stablecoin yields, which has disappointed leaders in the cryptocurrency industry. Galaxy CEO Mike Novogratz criticized this potential move, questioning whether Congress is more inclined to protect banking interests rather than consumers. Although Consensys lawyer Bill Hughes remains optimistic about the progress of the bill, Nic Carter of Castle Island Ventures believes that if yields are restricted, even if the bill ultimately fails to pass, it might be more beneficial for the entire industry. The Senate Banking Committee will review the bill on January 15, with stablecoin regulation being the focal point of debate.
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According to reports, negotiations between the two parties on a key market structure bill indicate that both sides may consider banning stablecoin yields, which has disappointed leaders in the cryptocurrency industry. Galaxy CEO Mike Novogratz criticized this potential move, questioning whether Congress is more inclined to protect banking interests rather than consumers. Although Consensys lawyer Bill Hughes remains optimistic about the progress of the bill, Nic Carter of Castle Island Ventures believes that if yields are restricted, even if the bill ultimately fails to pass, it might be more beneficial for the entire industry. The Senate Banking Committee will review the bill on January 15, with stablecoin regulation being the focal point of debate.