White House Takes The Wheel On The Stablecoin Bill As Yield Debate Narrows

One crypto-side attendee offered a blunt read of the banking lobby’s motivations: the pushback on stablecoin yield stems more from competitive pressure than genuine fears of deposit flight, which had been the original framing.The proposed anti-evasion language would give the SEC , Treasury , and the CFTC authority to enforce the yield ban, with civil monetary penalties of $500,000 per violation, per day — a provision bank-side sources described as “encouraging.”The draft also acknowledged bank concerns rais ...