U.S. Cryptocurrency Regulation Takes a Major Step Forward. Senate Banking Committee Chair Tim Scott announced a new bipartisan bill draft on Monday, aiming to ease long-standing disputes between crypto companies and traditional banks, preparing for the committee's review this Thursday.

What are the key points of the new draft? In simple terms, the issue of stablecoin yields finally has a clear stance. According to the provisions, digital asset service providers cannot pay interest or rewards to users who simply "hold coins without action." But this is not an absolute ban—rewards linked to specific activities such as trading, staking, providing liquidity, or collateralization are permitted.

This compromise proposal comes from Democratic Senator Angela Alsobrooks. As a key negotiator of the bill, she aims to define regulatory boundaries while leaving flexibility for the industry. Exchanges can offer stablecoin yields when users are "actively engaged," but idle funds should not earn returns.

Whether stablecoins can generate yields has long been a heated topic in the U.S. financial sector. Banks argue that the "GENIUS Act" passed last July, which prohibits stablecoin issuers from paying direct interest, has loopholes—regulatory gaps that exchanges can exploit. The new draft clearly aims to close these loopholes and also tests the balance between industry innovation and regulatory oversight.