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Galaxy Digital CEO: Banks blocking stablecoin yield provisions may derail crypto regulation bills
GateNewsBot
PANews January 21 News, Galaxy Digital CEO Mike Novogratz wrote that the stablecoin yield mechanism in the U.S. Crypto Market Structure Bill has become a point of controversy. Traditional banks are unwilling to allow crypto platforms to offer rewards to users, and this political interference could ultimately cause the bill to stall. He criticized banks and bipartisan lawmakers supporting their stance for harming American consumers’ interests and called for “rational voices to prevail.” The bill was originally intended to clarify regulatory boundaries and grant platforms legal operational space, but it is currently facing legislative difficulties due to disputes over the yield provisions.
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