Banks and crypto groups have expressed concerns about the new US Senate proposal regarding stablecoin yields.

CoinFeed reported on April 15th, citing Politico and Cointelegraph, that banks and crypto lobbying groups have expressed concerns about Senator Thom Tillis's latest compromise on stablecoin yields. Tillis plans to publicly release a draft agreement this week aimed at ending the controversy surrounding the Senate's crypto market regulation bill's provisions prohibiting exchanges and other third parties from offering stablecoin yields. The draft was submitted to bank and crypto representatives for review earlier this month but faced opposition from banks. Tillis stated his willingness to amend the proposal, noting progress on anti-circumvention clauses but ongoing negotiations on enforcement-related wording. If the two sides still cannot reach an agreement, Tillis will seek to reconvene a meeting, marking the fourth time the administration has mediated between them. The bill has been stalled since its passage in the House of Representatives last July.