Senator Alsobrooks pursues compromise on US crypto market bill and stablecoin yields

On Tuesday, Senator Angela Alsobrooks told a banking industry event that she is collaborating with Republican Senator Thom Tillis on a compromise to advance a key United States crypto market structure bill. She said both the crypto sector and banks will likely be "a little bit unhappy" as lawmakers tackle contentious issues such as banning stablecoin yield payments, which banking groups argue pose deposit flight risks.