-
Crypto execs ask Congress to let stablecoins pay interest as bill set to advance
Some influential cryptocurrency executives are making a last-minute pitch to Congress to allow interest to be paid on U.S. dollar-pegged tokens as part of popular legislation establishing a regulatory framework for stablecoins. That lobbying effort has been met with mixed reactions from lawmakers, and has also raised concerns from financial industry watchdogs who warn yield-bearing stablecoins could encourage consumers to move deposits into uninsured crypto accounts and out of the regulated banking system. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are ... (full story)
