Media Coverage
Source: Law360
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
01.15.26
In an interview with Law360, Pillsbury partner Kayvan Ghaffari said that the treatment of stablecoin interest and yield will likely be a sticking point during the discussion of the Senate Banking Committee's latest proposal to regulate crypto markets, "particularly where the bill draws hard lines between permitted payments functionality and prohibited interest-like returns."
"Those provisions, along with unresolved questions around DeFi classification and [anti-money laundering] obligations, are likely to drive substantial negotiations at Thursday's markup," he said.
The 278-page text released late Monday by Senate Banking Chairman Tim Scott, R-S.C., is nearly 100 pages longer than the last discussion draft that he and his Republican colleagues released in September, and it comes in the waning hours ahead of Thursday's highly anticipated markup, which was later postponed.
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