Odaily Planet Daily reports that crypto journalist Eleanor Terrett stated that after anonymous sources claimed the outlook for stablecoin yield negotiations was pessimistic, several industry insiders publicly defended Patrick Witt and the White House stance.
A banking industry insider directly familiar with the negotiations said that last week’s White House meeting attended by representatives from ABABankers, ICBA, and the Bank Policy Institute found the related statements confusing and did not agree with the anonymous sources’ views. They have also provided feedback to the White House.
The insider also mentioned that both sides are still in ongoing discussions about the bill text, and the March 1 deadline is not a decisive cutoff date.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The Federal Reserve emphasizes technological neutrality! The capital accounting method for tokenized securities should be in line with traditional securities.
The Federal Reserve, FDIC, and OCC jointly issued guidelines, clearly stating that tokenized securities should follow the same capital requirements as traditional securities, emphasizing neutrality regarding technological forms to promote the development of blockchain assets, reduce regulatory concerns, and enhance the business flexibility of financial institutions.
CryptoCity1h ago
Gate Daily (March 6): Crypto market structural bill negotiations hit a deadlock; Russia plans to introduce a stablecoin bill
Bitcoin failed to continue its rebound, with the price around $70,810. Negotiations on the U.S. Digital Asset Market Structure Act have stalled, with banks opposing the approval of stablecoin yield products. Russia plans to introduce an independent stablecoin bill to legalize the related industry. Market conditions are affected by geopolitical tensions, with rising oil prices raising concerns and further impacting inflation and trade.
MarketWhisper1h ago
Senator Lummis: CFTC Chairman is well aware of the urgency of legislation on digital asset market structure
BlockBeats News, March 6 — Cynthia Lummis, the proposer of the Bitcoin Strategic Reserve Act and Chair of the Senate Banking Digital Assets Subcommittee, stated that she had a meeting with CFTC Chair Michael Selig. The two discussed the digital asset market structure, and the discussion was very pleasant. The CFTC Chair is well aware of the urgency of the moment and looks forward to continuing cooperation in the process of integrating digital assets into the 21st-century financial system.
GateNews2h ago
The IRS mandates electronic filing of crypto tax forms; those who refuse may face termination of their exchange accounts.
The IRS will introduce new regulations requiring cryptocurrency exchanges to submit 1099-DA tax forms electronically and eliminate the paper option. If customers refuse the electronic version, exchanges may terminate the relationship. The new regulation aims to improve tax compliance efficiency. The 1099-DA form records users' trading profits, while the cost basis remains the responsibility of the individual. This move has raised industry concerns and could impact the use of digital assets.
MarketWhisper2h ago
The Federal Reserve clarifies capital rules for tokenized securities, stating the framework is "technologically neutral"
The Federal Reserve released a Q&A document stating that banks should treat tokenized securities according to existing capital rules, emphasizing technological neutrality. Qualified tokenized securities are treated the same as non-tokenized securities and can be used as financial collateral. This move further clarifies the regulatory framework.
GateNews3h ago
Russia plans to introduce the "Stablecoin Special Law" with the earliest implementation in July this year, optimistic about the cross-border payment potential of stablecoins.
The Russian Ministry of Finance announced the promotion of a "Stablecoin Legislation," aimed at unlocking economic potential through a legal framework, promoting cross-border trade, and responding to international sanctions. The bill is expected to be submitted for review this spring, granting stablecoins legal status. Additionally, the authorities plan to strengthen regulation and hope to balance economic interests and security through the special legislation, marking a clear strategic shift by Russia in the digital finance sector.
動區BlockTempo10h ago
