Tim Scott Signals Breakthrough on Stablecoin Yield Dispute

TheNewsCryptoОпубліковано о 2026-03-18Востаннє оновлено о 2026-03-18

Анотація

U.S. Senator Tim Scott has indicated that a breakthrough may be imminent in the dispute over stablecoin yield provisions within the Senate's crypto market structure bill, the Digital Asset Market Clarity Act. He expects to receive the first compromise proposal this week. The bill's progress had stalled due to disagreements on a clause that would ban third parties from offering yields on stablecoins. Traditional bankers argue such yields create a loophole diverting deposits from banks, while crypto advocates view the restriction as anti-competitive. Recent closed-door meetings between banks and crypto lobbyists have aimed to find a middle ground, though no official updates to the legislative calendar have been made.

Tim Scott, a U.S. senator, has revealed that this week banks and crypto lobbyists may compromise regarding stablecoin yield payments. In the current scenario, the Senate’s crypto market structure bill progress is stalled.

Scott attended a crypto lobby event in Washington chaired by the Senate Banking Committee, in which he said that he anticipates having the first proposal in his hands to take a look at. He further added that if that really happens before the end of this week, and I think that it will. I think we are going to be in much better shape.

The bill about which he is talking is the Senate’s crypto market structure legislation, officially known as the Digital Asset Market Clarity Act, which was rolled out to define how regulators will look after digital assets and describe the roles of various agencies.

Although progress revolving the legislation came to a standstill after disagreements arose over a provision that would prohibit third parties from providing stablecoin yield payments. Bankers claim that such yield offerings make a loophole that could take deposits away from traditional banks.

The crypto proponents say the limitation is anti-competitive and restricts user incentives. The bill is of concern to the Securities and Exchange Commission as well as the Commodity Futures Trading Commission.

The Rigorous Meetings

Senate Banking, which looks after the SEC, indefinitely delayed a markup of the bill in January. Afterward, the Senate Agriculture Committee, which looks after the CFTC, progressed its version to the Senate floor.

In the last weeks, bankers and crypto lobbyists have met in various closed-door meetings to negotiate a middle ground, but the Senate Banking Committee has not yet set any official updates to the legislative calendar.

In the latest comments, House Financial Services Committee chair French Hill mentioned the CLARITY Act can help address some of the unresolved issues associated with stablecoin regulation and wider market structure concerns.

Highlighted Crypto News Today:

OKX has Launched a Security-Packed Agentic Wallet

Пов'язані питання

QWhat is the main breakthrough that Senator Tim Scott signaled regarding stablecoin regulation?

ASenator Tim Scott signaled that banks and crypto lobbyists may compromise on the dispute over stablecoin yield payments, potentially leading to a proposal being reviewed by the end of the week.

QWhich specific bill is being discussed in relation to crypto market structure and stablecoin yields?

AThe bill being discussed is the Digital Asset Market Clarity Act, which aims to define regulatory oversight of digital assets and assign roles to various agencies.

QWhy did progress on the crypto market structure bill stall in the Senate?

AProgress stalled due to disagreements over a provision that would prohibit third parties from providing stablecoin yield payments, with bankers arguing it creates a loophole that could divert deposits from traditional banks.

QWhat are the opposing views between bankers and crypto proponents on stablecoin yield payments?

ABankers claim stablecoin yield offerings create a loophole that could take deposits away from traditional banks, while crypto proponents argue the limitation is anti-competitive and restricts user incentives.

QWhich congressional committees are involved in overseeing the crypto market structure legislation?

AThe Senate Banking Committee (overseeing the SEC) and the Senate Agriculture Committee (overseeing the CFTC) are involved, with the House Financial Services Committee also commenting on the CLARITY Act's potential to address regulatory issues.

Пов'язані матеріали

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

Ray Dalio, founder of Bridgewater Associates, warns in an interview that the current AI boom shows classic bubble characteristics, which could lead to significant economic downturns as seen in past cycles like 1929 or 2000. He explains that speculative enthusiasm, fueled by debt and overvaluation, often precedes a crash when rising rates or taxation force asset sales, causing widespread losses and recession. Dalio also outlines his "Big Cycle" theory, describing an approximate 80-year pattern where widening wealth gaps, massive government deficits, and shifting geopolitical power (like China's rise) create internal conflict and global instability. He emphasizes that we are in a late-cycle, transitional phase where traditional powers like the US and UK face decline. For personal wealth protection, Dalio advises diversification beyond cash into assets like stocks, bonds, real estate, and particularly gold, which he prefers over Bitcoin. While he holds about 1% of his portfolio in Bitcoin as a non-printable hard asset, he views gold as more secure from technological or governmental threats. Regarding AI's impact, Dalio believes it will disproportionately benefit capital owners, worsening inequality by replacing both physical and cognitive labor. He suggests that human intuition and emotional intelligence, combined with AI, will be key for future workers. On taxation, Dalio argues that wealth taxes are impractical and risk triggering asset sell-offs, reducing productive investment. He points to the UK as a cautionary example of debt, low productivity, and political strife. Geopolitically, Dalio foresees a more regionalized world, with the US showing weakness in prolonged conflicts like with Iran, akin to past imperial declines. The ideal outcome, he suggests, is coexisting powerful blocs (e.g., Americas, China-Asia Pacific) without major war.

marsbit3 год тому

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

marsbit3 год тому

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

South Korean stock market sees a dramatic shift in fund flows. On July 31, foreign investors made a record net purchase of approximately KRW 7.2 trillion in KOSPI stocks, marking a fundamental reversal from the persistent large-scale net outflows seen in previous months. This contributed to a significant narrowing of foreign net selling in July to KRW 9.8 trillion, down sharply from KRW 48.4 trillion in June and KRW 44.5 trillion in May. Simultaneously, domestic institutional pressure eased. South Korean pension funds and asset managers turned to a net buying position in July, purchasing KRW 1.0 trillion worth of KOSPI shares, contrasting with net sales in May and June. Market volatility is expected to be dampened by new financial regulations. Effective July 31, the Financial Services Commission tightened access for retail investors to single-stock leveraged ETFs by raising the minimum cash deposit requirement. Trading volumes for these products subsequently dropped to about 50% of their monthly average. Citigroup Research maintains its year-end KOSPI target of 10,000 points. The firm cites several supportive factors: the substantial easing of headwinds from capital outflows, a robust fundamental outlook for the semiconductor sector, historically low market valuations, strong economic fundamentals, and the potential for policy support from financial authorities if needed.

marsbit3 год тому

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

marsbit3 год тому

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

OpenAI's next-generation AI model Astra achieves breakthroughs in 10 long-standing mathematical conjectures. The results, including constructing the first known infinite, finitely presented non-sofic group—resolving a major question since 1999—and advancing the high-dimensional sphere packing problem beyond a 46-year-old barrier, are detailed in a 249-page paper. Key proofs have been formally verified using Lean 4. The AI also refuted a rigidity conjecture by Fields Medalist Alain Connes. According to OpenAI, generating these proofs cost under $2,000. Experts describe the findings as potentially Fields Medal-worthy and a landmark moment for both mathematics and AI, showcasing the model's ability to produce profound, human-like reasoning across diverse fields like group theory, geometry, and operator algebras.

marsbit5 год тому

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

marsbit5 год тому

How to Make Yourself Irreplaceable by AI Forever

This article argues that the primary threat from AI is not job replacement, but remaining trapped in "wage slavery"—financial dependence on employers. The path to becoming irreplaceable is not resisting AI, but becoming an "unemployable" individual who builds their own meaningful enterprise. The author identifies five key elements for this: Agency (acting without permission), Taste (judging what's worthwhile), Persuasion, Persistence, and Iteration. The solution is to stop being a "pawn" in someone else's game. To start, you must fundamentally change your identity and environment, then engage in rapid, real-world trial and error. While both coding and creating media (content) are powerful, content is more crucial. AI can generate assets, but true value lies in subjective, human-driven content that builds trust and narrative. The actionable advice is to carve out 15 minutes to answer foundational questions: 1) Uncover your "raw material"—what you know deeply or solve effortlessly. 2) Define your contrarian perspective—what common beliefs you think are wrong. The intersection of these answers is your direction. Finally, you must launch by publishing your first core idea immediately, using the feedback to iterate and develop the skills needed for a self-directed life and career.

marsbit5 год тому

How to Make Yourself Irreplaceable by AI Forever

marsbit5 год тому

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

The article discusses using dice rolls to generate secure Bitcoin wallet seeds, providing entropy independent of potentially flawed hardware random number generators. It explains that each fair dice roll offers about 2.585 bits of entropy, with around 50 rolls needed for a standard 12-word seed phrase and 99+ recommended for higher security. This method gained attention after a vulnerability was revealed in some Coldcard hardware wallets, where a faulty firmware RNG (dating back to 2021) compromised generated keys. The analysis notes that while a dice-generated main seed was safe from this specific flaw, other Coldcard functions (like creating paper wallets, backup keys, or passwords) could still be vulnerable if they used the defective RNG. The piece argues that while dice-based entropy is technically robust, the manual process is error-prone, tedious, and unrealistic for most new users, who might make mistakes in recording or inputting rolls. It concludes that while manual entropy generation should remain an option for advanced users, the long-term goal is to develop reliable, user-friendly hardware and software that securely generates randomness without requiring specialized knowledge. Coldcard users are advised to check their firmware version and replace any secondary secrets (like paper wallet keys) created with vulnerable devices, while also considering multi-signature setups with devices from different manufacturers for added security.

cryptonews.ru9 год тому

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

cryptonews.ru9 год тому

Торгівля

Спот