Banks are quietly lobbying the Senate to kill stablecoin yield
The fight over the crypto market-structure bill just moved behind closed doors. Per @EleanorTerrett , state bankers associations are coordinating a push on Senate lawmakers over stablecoin yield, a provision banks see as a threat to their deposits, and it's now a focus of their conferences nationwide.
Officially the Hill debate has shifted to an ethics deal, DeFi, and merging the Banking and Agriculture texts. But Terrett's source says yield is "very much in play" as more senators dig in.
Meanwhile the clock ticks. Rep. Dusty Johnson (@RepDustyJohnson) warns lawmakers "cannot count on the lame duck" and must pass the CLARITY Act before the August recess, or risk it slipping past the midterms.
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ai is coming into the real world.
we can all see it.
but how will it transact and join the economy?
the answer is crypto.
because of this.
every advancement in ai makes me more bullish than ever for crypto.