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The office of a U.S. lawmaker plans to release a draft of stablecoin yield provisions next week, and the industry is preparing counter-proposals.
Golden Finance reports that cryptocurrency journalist Eleanor Terrett has disclosed that the office of U.S. Senator Thom Tillis plans to publicly release legislative text regarding stablecoin earnings and reward mechanisms next week, and is currently in ongoing communication with various industry stakeholders. The report states that this move comes in response to dissatisfaction expressed by industry participants such as Coinbase regarding related terms presented earlier this week. Coinbase’s Global Head of Investment Research, David Duong, stated that the industry is preparing a coordinated counter-proposal aimed at pushing for adjustments to the terms to maintain a sustainable reward mechanism while protecting users.