[Galaxy Research Director: Stablecoin Yields Are a Key Sticking Point in U.S. Crypto Framework Bill Negotiations, Next Hearing May Begin in the Last Week of January] Galaxy Research Director Alex Thorn posted on the X platform, stating that U.S. Senate Banking Committee Chairman Tim Scott has announced a delay in the hearing on the crypto market structure bill. Reportedly, the issue of stablecoin yields is a key sticking point in the negotiations. Banking lobby groups are actively pushing to restrict stablecoin rewards, fearing that interest-bearing stablecoins could siphon off bank deposits and undermine the stability of the banking system. A compromise proposal aimed at gaining lawmakers' support has ultimately been deemed unacceptable by the stablecoin industry, with some viewing the issue as critical to their survival. Other unresolved issues include restrictions on DeFi and illicit activities, as well as limitations on tokenized securities innovation. Additionally, Alex Thorn revealed that although Tim Scott has not yet announced a new hearing date, since the Senate will be in recess next week, the earliest the Banking Committee could reconvene for a revised hearing would be during the week of January 26–30. The Senate Agriculture Committee, which oversees CFTC-related matters, has also postponed its revised hearing to January 27.