Crypto group counters Wall Street bankers with its own stablecoin principles for bill

After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards. What to know : The U.S. Senate's crypto market structure bill has been waylaid by a dispute over something that's not related to market structure: yield on stablecoins. The Digital Chamber is offering a response to a position paper circulated earlier this week by bankers who oppose stablecoin yield. The crypto group's own principles documents argues that certain rewards are needed on stablecoin acvitity, but that the industry doesn't need to pursue products that directly threaten bank deposits business.