TD Cowen: Stablecoins yield divergence or delay US crypto bill

TD Cowen's analysis suggests that disagreements over stablecoin yield mechanisms may delay the progress of the US Crypto Market Structure Act. Banking organizations, including the American Bankers Association, oppose allowing cryptocurrency platforms to provide stablecoin returns, believing that this will impact traditional banks. The opposition between banks and cryptocurrency platforms makes it difficult to find a middle ground in the short term, which has become a key obstacle to the legislative process.